How to Add Bears Power Technical Indicator on MetaTrader 4 Charts

Step 1: Open the Navigator Panel on Trading Platform Software

Open Navigator window as shown and portrayed below: Go to "View" menu (click on it), then choose "Navigator" window panel (click), or From Standard ToolBar click "Navigator" button or press key-board short cut keys "Ctrl+N"

On Navigator panel, select 'Indicators', (Double-Click)

How to Add Bears Power Technical Indicator in MT4 - MT4 Bears Power Trading Indicator - How Do You Use Bears Power Technical Indicator in Forex?

How Do I Add Bears Power Trading Indicator on MetaTrader 4 - MT4 Bears Power Technical Indicator

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

Expand menu by clicking the expand(+) button marker (+) or doubleclick the "indicators" menu, after this the button will appear as (-) and will now display a list as shown below - select the Bears Power chart indicator from this list of indicators so that to add the Bears Power indicator on the chart.

How to Add Bears Power Trading Indicator on Chart - How to Use Bears Power Indicator

How Do I Add Bears Power Technical Indicator - From the Above window you can then place Bears Power indicator that you want on the chart

How to Add Custom Bears Power Technical Indicator to MT4

If the indicator you want to add is a custom indicator - for example if the Bears Power technical indicator you as a trader want to add is a custom indicator you will need to first add this custom Bears Power indicator on the MetaTrader 4 platform & then compile custom Bears Power indicator so that the newly added Bears Power custom indicator pops up on the list of custom indicators in MT4 platform.

To learn how to install Bears Power indicators on MT4, how to add Bears Power indicator window to MT4 and how to add Bears Power custom indicator in MT4 - How to add a custom Bears Power indicator in MetaTrader 4.

About Bears Power Technical Indicator Tutorial Explained

Bears Power Analysis and Bears Power Signals

Developed by Alexander Elder

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

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

Calculation

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

Every Price bar either closes higher or closes lower than previous bar.

The highest price will mark & show the max power of the Bulls within a price period.

The lowest price will mark and show the max power of the Bears within a price period.

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

The moving Average illustrates the middle ground between sellers & buyers for a certain price period.

Hence:

Bears Power = Low Price - EMA

Bears Power Technical Indicator - How Do You Use Bears Power Indicator?

Technical Analysis and Generating Signals

Sell Trade Signal

A sell trading signal is generated when oscillator trading moves below Zero.

In a downtrend, the LOW is lower than EMA, so the indicator is below zero and Histogram is located below zero line.

How Do I Use Bears Power Indicator? - How to Add Bears Power Trading Indicator on MetaTrader 4 Charts

Exit Signal

If the LOW moves above the EMA then it means that the prices are beginning to rise, the histogram rises above the zero line.

How Do I Use Bears Power Technical Indicator?

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

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