Differential indicator by Sultonov - indicator for MetaTrader 5

Indicator lines show the accumulated sums of bulls and bears power for the user-defined period.

Method of Calculation

Bulls power is calculated by the following formula:

where the following applies:

• BullsPower(i) - the current bulls power.
• Close(i) - the Close price of the current bar.
• Close(i + 1) - the Close price of the previous bar.
• N - indicator calculation period.
• BUN - the number of positive increments of Close prices over N bars. The sum includes only positive increments.

Accordingly, the following formula is used for calculating the bears power:

where the following applies:

• BearsPower(i) - the current bears power.
• BEN - the number of negative increments of Close prices over N bars. The sum includes only negative increments.

Parameters

1. Calculate period - the number of past bars used for the calculation of indicator values (specified as N in the formulas).
2. The number of bars to display - the number of past bars, on which the indicator values will be displayed. To display the indicator on the whole available history, enter any unnatural number (0 or less). The parameter does not affect the indicator quality.

Interpretation

The red indicator line shows the bears power, and the blue line indicates the bulls power. The higher line shows the stronger side. The intersection of lines indicates trend change and is a good moment for opening a deal in the direction of the power that appeared to be above the other one.

Fig. 1. Change of an uptrend to a downtrend.

Update 22.09.2017

• The error in recognizing the Russian language of the terminal has been fixed.