Polarized Fractal Efficiency

It was created by Hans Hannula and presented in 1994 in one edition of the Technical Analysis of Stocks & Commodities magazine. It primarily goal is to determine price efficiency over a specific period of time and to tell us whether a security is trending or not. The indicator values moves between -100 and 100, where a value above zero indicates that the underlying security is trending up, while a value below zero indicators that the security is trending down.

Besides the above rule of thumb, the Polarized Fractal Efficiency indicator also measures the strength of the trend. The higher the indicator value the stronger the trend is. This means that a value of 100 indicates a very strong up trend and a value of -100 indicates a very strong down trend.

The indicator name is "pfe" and here is an example:

a = pfe(25); // Create the Polarized Fractal Efficiency based on the previous 25 bars
b = pfe(75);
c = pfe(75*4);

buy = a > 50 and b > 50 and c > 50;

The above trading system enters long when the Polarized Fractal Efficiency indicator tells us that the security is trending up (bullish) in the short, medium and long term.

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