Bull Bear Powers
Bull Bear Powers indicator shows the absolute power of bulls and bears in 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).
- 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.
- 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 (default).
- Level 1 Smoothing: A moving average with period 2 will be applied.
- Level 2 Smoothing: A moving average with period 3 will be applied.
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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