The trend indicator that gives signals for performing deals. The indicator color depends on the market movement direction determined by the indicator position relative to the zero line. When the color changes from magenta to blue, that is a buy signal, when the color changes from blue to magenta, there is a sell signal.
This indicator was first implemented in MQL4 and published in CodeBase at mql4.com 11.02.2008.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/782
The channel is based on the prices extreme values for a period. Central line, upper and lower channel borders values are determined by calculation of the Pivot Points used as assumed support and resistance levels.BullsBearsEyes
The sum of Bears Power and Bulls Power technical indicators values averaged using Laguerre algorithm.