How to Add MT4 Bulls Power Indicators in Meta Trader 4 Chart
Step 1: Open MT4 Navigator Window
Open MetaTrader 4 Navigator panel as shown on example below: Go to 'View' menu (click), then choose the 'Navigator' window (click), or From Standard Tool-Bar click 'Navigator' button or press keyboard MetaTrader 4 short cut keys 'Ctrl+N'
On MT4 Navigator window, select "Indicators", by DoubleClick
How Do I Use MetaTrader 4 Bulls Power Indicator in MT4?
How to Add Bulls Power MT4 Indicator
Expand the menu by clicking the expand button marker (+) or double click the 'indicators' menu, after this the button will appear as (-) & will now show a list of MT4 indicators as shown on example below - select the Bulls Power indicator from this list of MT4 indicators so that you can add the Bulls Power MT4 indicator on MetaTrader 4 chart.
How Do You Use MT4 Bulls Power Indicator on MT4?
How Install and Add Custom Bulls Power Indicator on MT4?
If the MT4 indicator that you want to add on the MT4 charts is a custom MT4 indicator - for example if the Bulls Power indicator that you want to add is a custom MT4 indicator you will need to first add this custom Bulls Power MT4 indicator on MetaTrader 4 platform & then compile custom Bulls Power indicator so that the newly added Bulls Power MT4 custom indicator pops up on the list of custom technical indicators in Meta Trader 4 trading platform.
To learn how to add Bulls Power indicators on MT4 - how do you add Bulls Power indicator window to MT4 platform? - how do you add Bulls Power custom indicator on MetaTrader 4? - How to add a custom Bulls Power custom indicator in MetaTrader 4.
How Do You Use Bulls Power MT4 Indicator?
Bulls Power Indicator Analysis & Bulls Power Buy & Sell Signals
Developed by Alexander Elder
Bulls Power indicator is used to estimate power of the Bulls (FX Buyers). Bulls Power indicator estimates the balance of power between the forex bulls and bears.
Bulls Power indicator aims at identifying if a bullish trend will continue or if the price has reached a level where it might reverse.
Calculation of Bulls Power Indicator
A Price Candlestick bar has 4 parameters: the Opening Forex Price, Closing Forex Price, High Forex Price and Low Forex Price on the price bar.
Each Forex Price bar either closes higher or lower than previous price bar.
The highest price will signal the maximum power of the Bulls within a price period.
The lowest price will signal the maximum power of the Bears within a price period.
Bulls Power indicator uses the High of the price and a Moving Average (Exponential MA)
The MA is used to represent the middle ground between forex sellers and buyers for a certain price period.
Therefore:
Bulls Power = High Price - Exponential MA
How to Add MT4 Bulls Power Indicators in Meta Trader 4 Chart
How to Generate Buy and Sell Signals
Buy Signal
A buy signal is generated when the Bulls Power indicator oscillator moves above Zero centerline mark.
In an upward trend - the Price HIGH is higher than EMA indicator - so the Bulls Power indicator is above zero & the Oscillator is located above the zero-line.
Bulls Power Indicator Buy Signal
Exit Forex Signal
If the Price HIGH falls below the EMA indicator then it means that the prices are starting to fall & the Bulls Power indicator histogram will begin to fall below zero center line.
The Triple Screen method for trading this Bulls Power indicator suggests identifying the price trend on a higher chart timeframe (like daily time frame) and applying the Bulls Power indicator signal on a lower chart time-frame (like hourly time frame). Bulls Power indicator signals are traded according to the Bulls Power indicator - but only in direction of the long term trend in the higher chart timeframe.
How Do I Use MetaTrader 4 Bulls Power Indicator in MT4?
