The Bears Bulls Power indicator for Metatrader 5 shows the ongoing battle between the bulls and bears in the currency market.
How to interpret bulls vs bears?
- The price will go up when there are more bulls than bears in the market.
- The price will go down when there are more bears than bulls in the market.
The indicator is displayed as a bull/bear colored histogram bar in a separate chart window.
A blue colored bar represents the market bulls while a yellow colored bar represents the bears.
The indicator works for any trading instrument that can be loaded in the Metatrader 5 platform.
The following indicator inputs and parameters can be adjusted: power period (13), bulls color, bears color.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
Free Download
BearsBullsPower.mq5 Indicator (MT5)
Chart Example
The following chart shows what the Bears Bulls Power Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Bears Bulls Power Forex Indicator?
Find a simple trading example below:
Buy Signal
- A bullish signal is given when the bull/bear histogram bar appears above the zero level.
- Open a buy trade and set your stop loss 3 pips below short-term support.
- Exit the buy trade near prior key resistance, or wait for a sell signal.
Sell Signal
- A bearish signal is given when the bull/bear histogram bar appears below the zero level.
- Open a sell trade and set your stop loss 3 pips above short-term resistance
- Exit the sell trade near prior key support, or wait for a buy signal.
