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Elders Thermometer

Elders Thermometer

Prodigio Description:
Calculates the Elders Thermometer study, which was designed by Alexander Elder and featured in his book, Come Into My Trading Room.

Further Explanation:
extract from Dr. Alexander Elder's book Come Into My Trading Room: A Complete Guide to Trading .
Elders Thermometer, Market thermometer helps differentiate between sleepy, quiet periods and hot episodes when market crowds become excited. It can help one to adapt trading to the current environment.

There is more information avalible including the ThinkScript code for the chart above,  FREE with a paid Subscription. 
 See more: Discussions & Examples 

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