How to Add Bulls Power Trading Indicator on MetaTrader 4 Charts

Step 1: Open Navigator Window on Forex Software

Open Navigator panel as shown and illustrated below: Go to 'View' menu (click on it), then select 'Navigator' window panel (click), or From Standard Tool Bar click the 'Navigator' button or press key-board shortcut keys 'Ctrl+N'

On Navigator panel, choose 'Indicators', (DoublePress)

How to Add Bulls Power Trading Indicator on MT4 - MT4 Bulls Power Technical Indicator - How Do I Use Bulls Power Trading Indicator in Forex?

How to Add Bulls Power Technical Indicator on MetaTrader 4 - MT4 Bulls Power Indicator

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

Expand the menu by pressing 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 Bulls Power chart indicator from this list of indicators so that to add the Bulls Power indicator to the chart.

How to Add Bulls Power Technical Indicator on Chart - How to Use Bulls Power Indicator

How to Add Bulls Power Trading Indicator - From the Above window you can then place Bulls Power indicator that you as a trader want on the chart

How to Add Custom Bulls Power Trading Indicator to MetaTrader 4

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

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

About Bulls Power Technical Indicator Tutorial Explained

Bulls Power Trading Indicator Analysis and Bulls Power Trading Indicator Signals

Created by Alexander Elder

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

This technical indicator tries to spotting if a bullish trend will continue or if the trading price has reached a point where it might reverse.

Calculation

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

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

The highest price will mark and 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 High of the price and a Moving Average (Exponential Moving Average)

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

Hence:

Bulls Power = High Price - Exponential MA

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

Bulls Power

Forex Analysis & How to Generate Signals

Buy Signal

A buy trade signal is generated when Bulls Power oscillator technical indicator moves above Zero.

In an upwards trend, the HIGH is higher than EMA, so the Bulls Power is above zero & Histogram Oscillator Trading Indicator is located above zeroline.

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

Exit Signal

If the HIGH falls under Exponential Moving Average then it means that the prices are beginning to drop, the Bulls Power histogram falls below zeroline.

How Do You Use Bulls Power Indicator? - How Do I Add Bulls Power Trading Indicator on MT4 Charts?

The Triple Screen technique for this technical indicator suggests that spotting the market trend on a higher chart time-frame interval (like daily time frame) and applying the bulls power technical indicator on a lower chart time-frame interval (like hourly time frame). Signals are traded according to the technical indicator but only in direction of the longterm trend in the higher chart time frame.

Learn More Lessons and Courses:

Trade Forex Trading