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Bulls Power Forex Technical Analysis and Bulls Power Forex Trading Signals

Developed by Alexander Elder

 

Bulls Power is used to estimate power of the Bulls (Buyers). Bulls Power estimates the balance of power between the bulls and bears.

 

This indicator aims at identifying if a bullish trend will continue or if the price has reached a point where it might reverse.

 

Calculation

A Currency Price bar has 4 parameters: the Opening, Closing, High and Low of the price bar.

 

Each Price bar either closes higher or lower than the previous price bar.

 

The highest price will indicate the maximum power of the Bulls within a price period.

 

The lowest price will indicate the maximum power of the Bears within a price period.

This Indicator uses the High of the price and a Moving Average (Exponential)

 

The moving Average represents the middle ground between sellers and buyers for a certain price period.

 

Therefore:

 

Bulls Power = High Price – Exponential Moving Average

Bulls Power Indicator

Bulls Power

 

 

Forex Technical Analysis and Generating Forex Trading Signals


Buy Signal

A buy signal is generated when the Bulls Power oscillator moves above Zero.

In an up trend, the HIGH is higher than EMA, so the Bulls Power is above zero and Histogram/Oscillator is located above zero line.

 

Bulls Power Indicator Buy Signal

 

 

Exit Signal

If the HIGH falls under EMA then it means that price are starting to fall, the Bulls Power histogram fall below the zero line.

Bulls Power Indicator Exit Signal Generated

 

The Triple Screen method for this indicator suggests identifying the price trend on a higher chart interval (like daily time-frame) and applying the bulls power on a lower chart interval (like hourly time-frame). Signals are traded according to the indicator but only in the direction of the long term trend in the higher time-frame.

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