OPEN-SOURCE SCRIPT
Bull Bear Power Trend
Atualizado
Do you find it difficult to analyze trends?
This indicator will help you to have an objective analysis of the trend.
Let's start .....
In this indicator Bears and Bulls go their separate ways.
-The Bull line (bullish green) always goes above zero.
-The Bear line (bearish red) always goes below zero.
With a quick glance, you will know who is winning.
There are two zones of tendency force:
- Above 2 for bulls: when the Bull line crosses its + 2 level upwards, an uptrend begins to have strength.
- Below 2 for bears: when the Bear line crosses its -2 level down, a downward trend begins to gain strength.
Trend Confirmation:
- When a histrogram bar appears the trend is confirmed.
When a positive histogram appears, it indicates that the Bull line is above its + level and the Bear line is above its level -.
When it is a negative histogram that appears, it indicates that the Bear line is below its level - and the Bull line is below its + level.
The TREND line (in black) is the difference between the Bull line and the Bear line.
Its crosses above / below zero serve us to track the trend, as well as turning points where we could put a stop loss .
This indicator generates multiple signals as position management, I leave it to fall in love with it and find all that.
Thanks to Jose Callao for this great idea.
Thumbs up
This indicator will help you to have an objective analysis of the trend.
Let's start .....
In this indicator Bears and Bulls go their separate ways.
-The Bull line (bullish green) always goes above zero.
-The Bear line (bearish red) always goes below zero.
With a quick glance, you will know who is winning.
There are two zones of tendency force:
- Above 2 for bulls: when the Bull line crosses its + 2 level upwards, an uptrend begins to have strength.
- Below 2 for bears: when the Bear line crosses its -2 level down, a downward trend begins to gain strength.
Trend Confirmation:
- When a histrogram bar appears the trend is confirmed.
When a positive histogram appears, it indicates that the Bull line is above its + level and the Bear line is above its level -.
When it is a negative histogram that appears, it indicates that the Bear line is below its level - and the Bull line is below its + level.
The TREND line (in black) is the difference between the Bull line and the Bear line.
Its crosses above / below zero serve us to track the trend, as well as turning points where we could put a stop loss .
This indicator generates multiple signals as position management, I leave it to fall in love with it and find all that.
Thanks to Jose Callao for this great idea.
Thumbs up
Notas de Lançamento
a user asked to smooth Trend Line add the option by applying a regression, you can activate it in the configuration and change the length at your discretionScript de código aberto
No verdadeiro espírito do TradingView, o autor desse script o publicou como código aberto, para que os traders possam compreendê-lo e analisá-lo. Parabéns ao autor! Você pode usá-lo gratuitamente, mas a reutilização desse código em publicações é regida pelas Regras da Casa. Você pode favoritá-lo para usá-lo em um gráfico.
Quer usar esse script no gráfico?
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