The Bears Power Oscillator MT4 indicator is an oscillator type trading indicator for the Metatrader 4 platform.
It oscillates below and above the zero level.
Above the zero level suggests the trend is bullish; on the contrary, trading below the zero level suggests the trend is bearish.
It’s recommended to use this indicator together with a trend following indicator, such as a longer period moving average.
For example the 100 or 200 period simple moving average would be a good choice.
The indicator is calculated as follows:
Bears = Low – EMA
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Download the “Bears.mq4” MT4 indicator
Indicator Chart (USD/JPY D1)
The USD/JPY daily chart below shows the Bears Power Oscillator forex indicator in action.
Basic Trading Signals
Buy: The indicator crosses the zero line (0.00 level) from below.
Sell: The indicator crosses the zero line (0.00 level) from above.
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Download the “Bears.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (Bears Period) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Oscillator
