everget

Total Power Indicator

Hello traders!

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.

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Happy Trading!
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Comments

really good one!
+1 Reply
everget AlexMayorov
@AlexMayorov, thank you, my dear Alex)
Reply
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
Reply
Thanks from Brazil
Reply
Can you add signals?
Reply
everget dpanday
@dpanday, Yes, I can. But I will not do that. I did enough for free.
Reply
@everget, thanks first of all for the wonderful tool. Just a question, how would you set it for lower time frames? You think it could be used for scalping ?
Many thanks
+2 Reply
everget Minimal_Est
@Minimal_Est, I use special tools for that. Those ones that can find the best settings for a given timeframe
Reply
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