How to Set Bears Power on MT4 Charts

Step 1: Open Navigator Panel on Platform Software

Open the Navigator window like as shown and portrayed: Go to the "View" menu (click on it), then choose/select the "Navigator" panel window (press), or From Standard Tool Bar click "Navigator" button or press key board shortcut keys "Ctrl+N"

In the Navigator panel, select 'Technical Indicators', (Double-Click)

How to Set Bears Power in MT4 Platform - MT4 Bears Power - How Do You Use Bears Power in Forex?

Adding Bears Power to MT4 - Bears Power Tool in MT4

Step 2: Expand the Indicators Menu on the Navigator - Adding Bears Power MT4 Indicator

Expand the menu by clicking the open(+) button tool initial "+" or doubleclick the "indicators" menu, and after that this button will be shown as (-) & will now display a list as is illustrated and shown below - choose the Bears Power technical indicator from this list of indicators so that to add the Bears Power on the chart.

How to Set Bears Power on a Chart - How to Use Bears Power Indicator

Add Bears Power - Use the window above to place it on your chart.

How to Set Custom Bears Power to MT4

Should the technical indicator you intend to incorporate be a custom one - for instance, if you, as a trader, wish to include the custom Bears Power indicator - you must first integrate this custom Bears Power into the MetaTrader 4 software. Following this, you will need to compile the custom Bears Power so that this newly integrated custom technical indicator then appears in the list of custom indicators available within the MT4 platform.

Learn to add Bears Power indicators to MT4, including the window and custom setup. Guide to installing a custom Bears Power on the platform.

About Bears Power Tutorial Explained

Bears Power Analysis and Bears Power Signals

Engineered & Conceived by Alexander Elder

Bears Power is used to determine the power of the Bears (Sellers). Bears Power measures the balance of power between the bulls and bears.

This tool is intended to ascertain whether a downward trend is set to endure or if the price has reached a point conducive to a reversal.

Calculation

A price bar for a currency has four parts: the price when it starts, the price when it ends, the highest price, and the lowest price.

Every bar either closes higher or closes lower than the prior price bar.

The peak price recorded within a trading period signifies and reveals the maximum strength exerted by the Bulls (the buyers).

The lowest price will mark and show the maximum power of the Bears(Sellers) within a trading period.

This technical indicator uses the Low of the price & a Moving Average MA (Exponential MA Moving Average)

The middle ground between sellers and buyers for a given price range is shown by the moving average.

Hence:

Bears Power equals Low Price minus EMA

Bears Power - How Do You Use Bears Power Indicator?

Technical Analysis and Generating Signals

Sell Trade Signal

A sell trading signal is produced or derived whenever the oscillator indicator moves below the Zero level.

In a downtrend scenario, the lowest price point (LOW) is situated beneath the Exponential Moving Average (EMA), meaning the indicator registers below zero and the Histogram is positioned beneath the zero line.

How Do I Use Bears Power Indicator? - How to Set Bears Power on MT4 Charts

Exit Signal

When the LOW moves above the EMA, it indicates rising prices, with the histogram crossing above the zero line, signaling an upward momentum.

How Do I Use Bears Power Indicator?

When using the Triple Screen technique with this indicator, first find the price trend on a larger timeframe chart (like a daily chart), then use the bears power signals on a smaller timeframe chart (like an hourly chart). Trades should follow the signals from the smaller timeframe, but only in the same direction as the long-term trend shown on the larger timeframe chart.

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