How to Set Bulls Power on MetaTrader 4 Charts

Step 1: Open the Navigator Window on Forex Software

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

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

How to Set Bulls Power on the MT4 Software - MT4 Bulls Power - How Do I Use Bulls Power in Forex?

How to Set Bulls Power in MT4 Platform - MT4 Bulls Power Indicator

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

Expand the menu by pressing the expound(+) button/tool impress + or doubleclick the 'indicators' menu, after which the button will appear and be shown as (-) & will now display a list just as shown below - select and choose the Bulls Power chart indicator from this list of indicators so that to add the Bulls Power to the chart.

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

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

How to Set Custom Bulls Power to MT4

If the indicator you want to add is a custom technical indicator - for example if the Bulls Power you want to add is a custom indicator you'll need to first add this custom Bulls Power on the MT4 software & then compile the custom Bulls Power so that as the newly added Bulls Power custom indicator pops up on the list of custom technical indicators on MetaTrader 4 trading software.

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

About Bulls Power Tutorial Explained

Bulls Power Analysis and Bulls Power Signals

Created and 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 & 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 four parameters: the Opening, Closing, High and Low of the price bar.

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

The highest price will mark and show the maximum power of the Bulls within a trading period.

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

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

The moving average illustrates and shows the middle ground between sellers and buyers for a certain price period.

Hence:

Bulls Power = High Price - Exponential MA

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

Bulls Power

FX Analysis and How to Generate Trading Signals

Buy Trading Signal

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

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

How to Use Bulls Power - How Do I Add Bulls Power on MT4 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 on MT4 Charts?

The Triple Screen method 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 powers technical indicator on a lower chart time frame interval (like hourly time frame). Signals are traded and transacted according to the indicator but only in direction of the longterm trend in the higher chart time frame.

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