The indicator is based on readings of two oscillators: Bulls Power and Bears Power. It clearly shows the balance of buyers and sellers power. A signal for entering a deal is crossing the zero line and/or a divergence. When the volume filter is enabled, yellow histogram bar shows low trading volume (below average for 50 previous bars).
Input Parameters:
Period - calculation period, 13 on default; CalculatedBar - number of bars for displaying a divergence, 300 on default; Filter by volume -