Hello I need to create an indicator using bull and bear power with Ema as smoothing method and close Price For calculation. The indicator should be able to analyze, calculate and measure the strength of bull and bear power and represent them in percentage ratio from 0 to 100% on every newly opened candle showing the power of buying and selling to determine the direction of the candle and generate buy or sell signal according to the alert percentage set in input parameters... For example.,. Alert condition
When the bull power is positive, is stronger than bear power with 85 percent or higher signal buy...
The input parameters will include...
Ema smoothing period
Smoothing Method=EMA
bull and bear power period,
signal percent ( to set desire percentage for the signal alert)..
The chart will also contain the following information..
Bull power strength in percentage
Bear power strength in percentage
Signal for either buy,sell or wait.
This indicator Will be used for binary options trading to predict the direction of opened candle thanks..
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Arbitraggio
309
58%
/
27%
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