Condition Bulls and Bear Power indicator
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How is it correct to create the condition where the following occurs:
The value of Bulls Power is greater than the value of Bear Power
Viewing it is possible to realize that most of the time this indicator manages to define the sales or purchase force, I want my EA to authorize the entry when the strength of one side is confirmed at the exact moment.
0_1582022061496_bullsbearspower.PNG -
Bear Power and Bull Powe are the distance between candle and MA.
Bear uses candle low, bull uses candle high. Bull power will be greater when candles are above MA, bear will be greater when candles are below MA.In essence, bear/bull power is the MACD without any smoothing.
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So, the condition to detect whether the current candlestick movement is up or down based on what you said would be correct to use the condition below ?
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No. Replace bulls/bears power with simple moving average.
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Look at the MA and price, the bears power is just the difference
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@roar said in Condition Bulls and Bear Power indicator:
No. Replace bulls/bears power with simple moving average.
What period for MA?
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The bears/bulls used 21 by default, so its 21 MA
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@fabiobioware Oh, sorry, the default seems to be 13.
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@roar said in Condition Bulls and Bear Power indicator:
The bears/bulls used 21 by default, so its 21 MA
if open candle x> ma21 buy
if open candle x< ma21 sellcorrect now ?
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@fabiobioware You have to explain what you want here. Why you compare the 2 indicators to each other?
Bull power will ALWAYS be bigger when the indicators are positive, and bear power will ALWAYS be bigger (absolute value) when the indicators are negative.
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@roar said in Condition Bulls and Bear Power indicator:
@fabiobioware You have to explain what you want here. Why you compare the 2 indicators to each other?
Bull power will ALWAYS be bigger when the indicators are positive, and bear power will ALWAYS be bigger (absolute value) when the indicators are negative.@roar what I want is to define what that candle is, if it is a buy candle or if it is a sell candle.
For this I am -
@roar I have a strategy of crossings of means, but to eliminate false crossings, that is, false entries that would cause me losses, I try to make short scalps of small pips, for this I want to try to authorize my entry only when the condition is correct. in favor of the current movement, if the movement is in purchase I want to buy and if it is on sale I want to sell
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@fabiobioware And what is the role of bear/bull power?
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@roar said in Condition Bulls and Bear Power indicator:
And what is the role of bear/bull power?
Bull for buy and Bear for Sell
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@fabiobioware said in Condition Bulls and Bear Power indicator:
@roar said in Condition Bulls and Bear Power indicator:
And what is the role of bear/bull power?
Bull for buy and Bear for Sell
how?
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@fabiobioware Using 0-line cross is exactly the same as 13-moving average crossover. It will not create any extra benefit for you, but do as you like
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Yes, I am using the average 13, would you have any suggestions to use as a confirmation?
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You don't want to use bear/bull power to filter out false entries. That indicator is basically the MACD with some added noise. Anyway, you will get false entries with every MA strategy, they cant be avoided.
To filter out flat periods, use an indicotr that tracks the volatility. For example, only trade the cross when standard deviation (34) is above average true range (144).
