Discussion of article "Elder-Ray (Bulls Power and Bears Power)"

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New article Elder-Ray (Bulls Power and Bears Power) has been published:

The article dwells on Elder-Ray trading system based on Bulls Power, Bears Power and Moving Average indicators (EMA — exponential averaging). This system was described by Alexander Elder in his book "Trading for a Living".

The system is both simple and complex:

  • it is simple if we perceive it literally: buy if a trend is upwards (EMA) and Bears Power is below zero, but is increasing;
  • it is complex, if we read more carefully and also look at the chart EMA and Bears Power are launched at: it turns out, it is not as simple as it seems since such conditions are few.

In this article, we will go through all the stages from simple to complex and check two types of trading system: 

  1. all indicators on the same chart (and therefore, on a single timeframe);
  2. in combination with the "Triple choice" system.

The EAs in the article are meant for working with netting accounts only.

CAT and V manual

Author: Vladimir Karputov

 

Hello,

thank you for the article!

Can you tell me what broker did you use to build this article?

Best regards,

Romeu Bertho.

 
Romeu Bertho :

Hello,

thank you for the article!

Can you tell me what broker did you use to build this article?

Best regards,

Romeu Bertho.

Sorry, discussion and advertising of brokers, dealers and trading organizations is prohibited.

 

Wow. This is a fantastic write up, @Vladimir Karputov. Thank you for taking the time to write so much detail. 

I just learned about Elder-Ray and now I am going to study this article and code very deeply. I am considering combining it with other indicators that might boost probability. 

Do you have any suggestions on what indicators might be good to combine with the Elder Ray? I was thinking about volume indicators and maybe IKH. What do you think?

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