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RFX5 Bull Bear Powers

RFX5 Bull Bear Powers indicator shows the absolute power of bulls and bears controlling the market. Both powers are shown simultaneously with red and green colors for bear and bull powers respectively. When red line goes over the green line it means that bears are controlling the market. When green line goes over the red line it means that bulls are controlling the market. The green/red horizontal symbol line at the bottom of the indicators shows which party has more strength.

Time Frame: M30 and H1 are recommended (the indicator works on all time frames).

Manual Signal:

  • BUY: Buy when a significant but not extremely long bull candle appears at the beginning of a green horizontal symbol line at the bottom of the indicator.
  • SELL: Sell when a significant but not extremely long bear candle appears at the beginning of a red horizontal symbol line at the bottom of the indicator.

Indicator Signal:

The indicator generates Buy and Sell signal depending on the input settings of trading time period and above entry logic.

Input Settings:

  • Period: Period over which the bull/bear powers will be calculated (minimum is 5, default is 7).
  • Smoothing Level: Smoothing level applies a moving average to the bull and the bear power.
    • No Smoothing:No smoothing will be applied.
    • Level 1 Smoothing:A moving average with period 2 will be applied.
    • Level 2 Smoothing:A moving average with period 3 will be applied (default).
  • Alert Notifications? if true, an alert notification will pop up for each BUY/SELL signal.
  • Email Notifications? if true, an email notification will be sent to your email address for each BUY/SELL signal.
  • Mobile Notifications? if true, a notification will be sent to your mobile phone (MT4 app) for each BUY/SELL signal.
  • Notification Start Hour (broker time): An integer number (0-23) which indicates the start hour for the BUY/SELL signals notifications (no notifications will be triggered before this hour).
  • Notification End Hour (broker time): An integer number (0-23) which indicates the end hour for the BUY/SELL signals notifications (no notifications will be triggered after this hour).

    Note: Do not take signal at the beginning or end of day. The best signals appear during the Frankfurt/London session.












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    Indicators
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