Elder Ray Bull and Bear Power Oscillators
Tradingview Screener Bull Bear Power(BBPOWER)
The Bull and Bear Power oscillators developed by Dr Alexander Elder attempt to measure the power of buyers (bulls) and sellers (bears) to push prices above and below the consensus of value. The primary principles on which Elder based the oscillator are:
This indicator can show us when bear or bull are in control of the market.
Green histogram means bulls were stronger on that candle. Red histogram means bears were stronger on that candle.
The white line follows the balance of power, so that the trend becomes more apparent. A simple moving average helps visualize the direction of trend with color Green or...