Indicators for MT4
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Buyer Seller Indicator
Bull & Bear Indicator
The bull-bear is a technical MT4 indicator that is significantly different from other indicators.
The Bears Bulls Power Indicator was created to capture both bullish and bearish markets. Also, it offers an objective indication of market mood direction in the short term.
How does the Bull & Bear MT4 indicator work?
Basically, the Bull & Bear power indicator is easy to use once you understand how to read the various components.
This MT4 indicator consists of 3 components: Exponential Moving Average (EMA), bull power, and bear power.
EMA is often plotted as a separate component on the price chart. It is used to calculate bull and bear power components of the index.
Bull power shows the relation between EMA and the day’s high price.
Bull power = Day’s high bear power – EMA.
Bear power = Day’s low price – EMA.
This indicator plots histogram bars. These histogram bars oscillate around its midline, which indicates Zero.
- Positive green bars indicate bullish momentum.
- Negative red bars indicate bearish momentum.
Setup for Buy trade:
- Increasing EMA.
- Bears power increases, but it is negative.
- The last peak is higher than the previous one.
- Note: If bear power is positive, it better not to go long.
Setup for sell trade:
- Decreased EMA.
- Bull’s power decreases, but it is positive.
- The last low is lower than the previous one.
- If Bull’s power is negative it is better not to go short.
Finally, this bull & bear power indicator is the effective MT4 indicator. You can download this indicator right below. Even a newbie can understand and gain profits using this indicator in the MT4 chart. If you have any doubt or need advice, don’t hesitate to contact us.