Bulls or Bears AM
The indicator improves the idea implemented in the standard Bulls and Bears indicator. This indicator displays the difference between the High and Low for the current period of time and the values of the channel constructed at the maximum and minimum prices for a longer period. The growth of the indicator values above zero indicates that the High for the current period is greater than the average of the maximum prices for the period chosen as the indicator parameter. This situation in most cases indicates an increase in the value of the asset, and vice versa. To enter the market, wait for the first bar, at which the indicator value is greater or less than zero, and set a pending order to overcome the bar's High or Low.
The indicator does not re-paint on fully formed bars. The indicator is easy to set and efficient on trendy market segments.
- i_Period - smoothing period for forming the channel
- i_Method - smoothing method for forming the channel