Elder Ray Composite DOA hybrid representation of Elder Ray's Bear/Bull as an oscillator, using TEMA and LRC calculations to average out the signals. The Oscillation is based off of the Derivative oscillator. This gives an interesting interpretation of Bear vs Bull power. Give it a try!
Padrões de Alta
Madrid Bull/Bear TerritoryThis study displays a background in four colors, lime, green, red, maroon, lime = Bull Territory, red = Bear Territory, green = possible reversal to Bear Territory, maroon = possible reversal to Bull Territory.
Trading with the basic rule, go long on a Bull Market and short a Bear Market.
This study can be used inside the main window, or by unmerging/merging it can be used as a standalone or in combination with other indicators.
The parameters defined by default reduce choppiness and false signals, but just like any other indicator, there is a trade off between fast response and choppiness. The smaller the parameters the faster response, but the more choppiness.
This indicator is built using three EMA's, two (the bigger ones) are used to define the trend direction, and the fastest one is used as a signal, when the signal breaks out the trend indicators to the downside we're in Bear Market, when the signal breaks out to the upside, we're in Bull Market, any thing in between is either a trend reversal or trend continuation.
Momentum indicators and price pattern analysis are recommended to determine the direction of the trend.
Elder Ray (Bull Power) Strategy Developed by Dr Alexander Elder, the Elder-ray indicator measures buying
and selling pressure in the market. The Elder-ray is often used as part
of the Triple Screen trading system but may also be used on its own.
Dr Elder uses a 13-day exponential moving average (EMA) to indicate the
market consensus of value. Bull Power measures the ability of buyers to
drive prices above the consensus of value. Bear Power reflects the ability
of sellers to drive prices below the average consensus of value.
Bull Power is calculated by subtracting the 13-day EMA from the day's High.
Bear power subtracts the 13-day EMA from the day's Low.
You can use in the xPrice any series: Open, High, Low, Close, HL2, HLC3, OHLC4 and ect...
Elder Ray (Bull Power) Developed by Dr Alexander Elder, the Elder-ray indicator measures buying
and selling pressure in the market. The Elder-ray is often used as part
of the Triple Screen trading system but may also be used on its own.
Dr Elder uses a 13-day exponential moving average (EMA) to indicate the
market consensus of value. Bull Power measures the ability of buyers to
drive prices above the consensus of value. Bear Power reflects the ability
of sellers to drive prices below the average consensus of value.
Bull Power is calculated by subtracting the 13-day EMA from the day's High.
Bear power subtracts the 13-day EMA from the day's Low.
You can use in the xPrice any series: Open, High, Low, Close, HL2, HLC3, OHLC4 and ect...
Bull And Bear Balance Indicator Hi
Let me introduce my Bull And Bear Balance Indicator script.
This new indicator analyzes the balance between bullish and
bearish sentiment.
One can cay that it is an improved analogue of Elder Ray indicator.
To get more information please see "Bull And Bear Balance Indicator"
by Vadim Gimelfarb
