Forex miner

Personal blog about forex trading. Automated trading strategy for VT TRADER, TRADERSTATION, METATRADER. Trading strategy fx reviews

ELDER RAY Indicator for Tradestation

Popular indicator from Alexander Elder.

Download link.(ELDERRAY.ELD)

... or read more theory... here and here

Elder Ray Buy signals

  • Moving average rises and Bullish Force indicator is below zero. The best time to buy is when the Bearish Force first falls below zero and then immediately rises.
  • If new price highs are confirmed by new Bullish Force indicator highs, then it is a good confirmation of the bullish trend.
  • Bearish convergence is another strong signal.

Elder Ray Sell signals

  • Moving average moves downward and Bullish Force is above zero.
  • Bearish trend is confirmed if the price lows and Bearish Force indicator lows move downward in parallel.
  • Bullish divergence is another strong signal.


Enjoy the trading !