Bull Bear Power Void with a Killer Exit Indicator
Welcome to the coffee shop everybody and this is your host and baristo Eric. the bull bear power void has had a massive update since the last time I have been in the shop. So thanks for joining me on this one.
THE BACKGROUND:
I have recalculated the background to show you when you are looking for Longs and when you are looking for short trades. It's simple enough and the background is either red or green to tell you early that the trend has changed. just because the background color is red doesn't mean enter short it means that a retest is coming and a Divergence is about to complete. The same thing goes for green. when it changes to Green it means that a retest is coming or that I Divergence is about to complete and you trade into that direction.
The light blue filter is called the Volume regression moving average. this does a really good job of telling you exactly what's happening with volume as it's moving along. it calculates against the highs and lows of the immediately closed volume bars so when you break a previous high or a previous low then you know you have broken a range and you have maintained a new structure.
breaking a previous high or previous low also means that you can either trade to the long side or to the short side. This is just an added confirmation to layer into your background and your volume bar colors.
VOLUME BAR COLORS.
Speaking of the colors of the volume bars. I've changed them to make them a little bit more intuitive for people. Now it's really simple. if you have dark colors like dark green and dark red then you know volume is moving to the upside. if you have light colors like light green and light red volume is moving to the downside.
These colors are irrelevant to the location of the bar meaning it doesn't matter if the bar is liked or dark color above zero or below zero.
if you get a dark color below zero you're still moving up anyway because up is always up and down is always down.
the short of it is dark colors mean long light colors mean short.
The final Clincher of the updates to the bull bear power void is another filter using a hull moving average calculation.
in this oscillator it's shown as a purple moving average. this does an excellent job of telling you when a pullback is over or a trend is over or a trend has lost its momentum. it is the final layer of Confluence to tell you that the move you were in is over or it's on pause.
the bottom line is that this purple moving average is to be used as an exit indicator not an entry indicator.
When the light blue and the purple moving averages cross each other above closing volume or below closing volume is when you have a strong move in the opposite direction. These two moving averages combined are always pushing volume away from it.
as you watch your charts you'll notice that primarily volume will exist inside of these two moving averages in other words you will have these two moving averages at the bottom of your panel volume will exist above them and then the zero level would be there if this is the case you have an uptrend.
THE BACKGROUND:
I have recalculated the background to show you when you are looking for Longs and when you are looking for short trades. It's simple enough and the background is either red or green to tell you early that the trend has changed. just because the background color is red doesn't mean enter short it means that a retest is coming and a Divergence is about to complete. The same thing goes for green. when it changes to Green it means that a retest is coming or that I Divergence is about to complete and you trade into that direction.
The light blue filter is called the Volume regression moving average. this does a really good job of telling you exactly what's happening with volume as it's moving along. it calculates against the highs and lows of the immediately closed volume bars so when you break a previous high or a previous low then you know you have broken a range and you have maintained a new structure.
breaking a previous high or previous low also means that you can either trade to the long side or to the short side. This is just an added confirmation to layer into your background and your volume bar colors.
VOLUME BAR COLORS.
Speaking of the colors of the volume bars. I've changed them to make them a little bit more intuitive for people. Now it's really simple. if you have dark colors like dark green and dark red then you know volume is moving to the upside. if you have light colors like light green and light red volume is moving to the downside.
These colors are irrelevant to the location of the bar meaning it doesn't matter if the bar is liked or dark color above zero or below zero.
if you get a dark color below zero you're still moving up anyway because up is always up and down is always down.
the short of it is dark colors mean long light colors mean short.
The final Clincher of the updates to the bull bear power void is another filter using a hull moving average calculation.
in this oscillator it's shown as a purple moving average. this does an excellent job of telling you when a pullback is over or a trend is over or a trend has lost its momentum. it is the final layer of Confluence to tell you that the move you were in is over or it's on pause.
the bottom line is that this purple moving average is to be used as an exit indicator not an entry indicator.
When the light blue and the purple moving averages cross each other above closing volume or below closing volume is when you have a strong move in the opposite direction. These two moving averages combined are always pushing volume away from it.
as you watch your charts you'll notice that primarily volume will exist inside of these two moving averages in other words you will have these two moving averages at the bottom of your panel volume will exist above them and then the zero level would be there if this is the case you have an uptrend.
