AABB Active Analyzer Bulls and Bears
AABB - Active Analyzer Bulls and Bears is created to indicate the state to what extent a candlestick is bullish or bearish. The indicator shows good results on EURUSD H4 chart with default settings.
The Strategy of the Indicator
When the indicator line crosses 80% level upwards, we buy. When the indicator line crosses 20% level downwards, we sell.
The signal candlestick must significantly overlap the previous candlestick, but doesn't have to do it completely.
The Indicator Settings
The indicator settings are quite simple. You only should set data according to the size of candlesticks in ticks.
- BodyMiddle – maximum size of a medium body;
- BodySmall – maximum size of a small body;
- BodyZero – maximum size of the smallest body (usually 0 or 1);
- ShadowUpMiddle – maximum size of a medium upper shadow;
- ShadowUpSmall – maximum size of a small upper shadow;
- ShadowUpZero – maximum size of the smallest upper shadow;
- ShadowDownMiddle – maximum size of a medium lower shadow;
- ShadowDownSmall – maximum size of a small lower shadow;
- ShadowDownZero – maximum size of the smallest lower shadow.