This indicator was originally developed by Daniel Fernandez (Currency Trader magazine, 2011).
It is based on the two well-known indicators by Dr. Alexander Elder - Bulls Power and Bears Power.
Signals 1) Long when Bull and Total lines indicate 100 (it happens rarely) 2) Short when Bear and Total lines indicate 100 (it happens rarely) 3) Bull and Bear lines crossovers 4) Long when Bull line crosses Total line from below 5) Short when Bear line crosses Total line from below 6) Long/Short when Bull/Bear lines cross adjustable level.
Hi, Does this ever repaint or once the bar closes it remains the same? Nice work!
everget
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@Sebrox, every indicator on TradingView will repaint because they, TV, provide you a buffer of several thousands bars and calculate your script on those bars. As soon as new bars come in (well there is some critical amount of bars), TV drops the oldest bars and recalculate your scripts across the entire (available to you) chart history.
Marzipug
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Genius! Thank you for sharing.
levith
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Try it,may be you will find different
total=100*(bullCount-bearCount)/length
bull=100 *bullCount/ length-75
bear=100 *bearCount/ length-75
hline:=0