Bulls Bear Power Indicator
Forex momentum strategy from the best Bulls Bear Power Indicator for MT5. Identify the trend’s momentum through bulls and bear power.
Description
The Bulls Bear Power indicator is a simple MT5 indicator that shows the direction of a trend.
The indicator builds bars and works like any other momentum oscillator. It is similar to the MACD (moving average convergence-divergence). As soon as the bars go above the zero line, the indicator shows the direction of the trend.
The indicator reports a fight between bulls and bears, so you can better understand the overall trend.
This indicator works on any time frame, but it is better to use it on longer time frames to reduce market noise.
How to use the Bulls Bear Power Indicator for MT5?
The above AUDUSD hourly chart shows the Bulls Bear Power Indicator on the chart.
To identify BUY or SELL signals, you must look at the zero line. If the bars start to move above the zero line, it means that the bulls are winning the battle. Thus, here you can open long positions and close short ones.
Conversely, if the bars start to drift below the zero line, this means that the bears are winning and you can go short or close long.
Conclusion
The Bulls Bear Power indicator determines the strength of a trend by working as a momentum oscillator. It shows if the bulls or bears are winning the battle and you can position yourself accordingly.
If you wish, you can download the indicator for free on our website.