STRENGTH INDEX / Impulse System

STRENGTH INDEX / Impulse System Indicator
Developed by Marcelo Ulisses Sobreiro Ribeiro

This powerful TradingView indicator combines two distinct trading approaches in one versatile tool:

1. STRENGTH INDEX (Multiple EMA System)
The first section features a unique configuration of 17 exponential moving averages designed to identify market strength and trend direction. The system includes:

Core EMAs (6, 21, and 34 periods) plotted with distinct colors and weights

A dense cluster of 14 additional EMAs (7-20 periods) that create a "zone of strength"

2. Impulse System (Based on Dr. Alexander Elder's Work)
The second section implements a modified version of Dr. Alexander Elder's famous Impulse System from his classic book Trading for a Living, featuring:

Color-coded bars (green/red/blue) based on trend strength

Customizable MACD parameters (12,26,9 by default)

Optional moving average (SMA/EMA/WMA/VWMA) with adjustable periods

EMA baseline (13-period default) for trend identification

Key Features:
Switch between systems with one click

Fully customizable parameters

Clean visual presentation with adjustable line weights

Maximum 500 plotted lines for performance optimization

This indicator is ideal for traders who want to:
✔ Identify strong trends using the EMA cluster
✔ Follow the market's impulse with Elder's proven system
✔ Customize their analysis with multiple technical tools

Tip: Use the STRENGTH INDEX for trend identification and the Impulse System for entry/exit timing.