Impulse System for the price bars
- Bullish price bar: (13-period EMA > previous 13-period EMA) and (MACD-Histogram > previous period's MACD-Histogram)
- Bearish price bar: (13-period EMA < previous 13-period EMA) and (MACD-Histogram < previous period's MACD-Histogram)
- Neutral price bar: when conditions for a bullish price bar or bearish price bar are not met.
The Elder Impulse System indicator identifies transitions where a trend speeds up or slows down. The Impulse System is based on two indicators, a exponential moving average over a number of days and the MACD histogram. The moving average identifies the trend, while the MACD histogram measures momentum. As a result, the Elder Impulse System combines trend following and momentum to show tradable impulses.
