How to Set MetaTrader 4 Bulls Power Indicators in MetaTrader 4 Chart
Step 1: Open MetaTrader 4 Navigator Window
Open MetaTrader 4 Navigator panel like as displayed & shown on example put on display below: Go to 'View' menu (click), then select the 'Navigator' window panel (click), or From Standard ToolBar click 'Navigator' button or press key board MetaTrader 4 short-cut keys 'Ctrl+N'
In the MetaTrader 4 Navigator window, select/choose "Indicators", by DoublePress
How Do I Use MetaTrader 4 Bulls Power in MT4 Platform Software?
How to Set Bulls Power MT4 Indicator
Expand this menu by clicking the expand tool/button emblem ( + ) or double-click the 'indicators' menu, afterwards this particular specified button will appear and be shown as (-) and will now show a list of MetaTrader 4 indicators as displayed & shown on example below - select the Bulls Power from this list of MT4 indicators so that as you as a trader can add the Bulls Power MetaTrader 4 indicator in MT4 chart.
How Do I Use MT4 Bulls Power on the MT4 Platform?
How Install and Add Custom Bulls Power in MetaTrader 4 Software?
If the MetaTrader 4 indicator that you want to add in the MT4 charts is a custom MetaTrader 4 indicator - for example if the Bulls Power that you want to add is a custom MT4 indicator you will need to first add this custom Bulls Power MetaTrader 4 indicator in MT4 software & then compile custom Bulls Power so that as the newly added Bulls Power MetaTrader 4 custom technical indicator pops up on the list of custom technical indicators on MT4 trading platform.
To learn how to add Bulls Power indicators on the MT4 - how do you place Bulls Power window to MT4 software? - how do you place Bulls Power custom indicator in the MT4? - How to add a custom Bulls Power custom indicator in MetaTrader 4 Platform.
How Do You Use Bulls Power MT4 Indicator?
Bulls Power Analysis & Bulls Power Buy & Sell Signals
Developed by Alexander Elder
Bulls Power is used to estimate power of the Bulls (FX Buyers). Bulls Power estimates the balance of power between the forex bulls and bears.
Bulls Power 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 trading period.
The lowest price will signal the maximum power of the Bears within a trading period.
Bulls Power uses the High of the price and a Moving Average MA (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 Set MetaTrader 4 Bulls Power Indicators in MetaTrader 4 Chart
How to Generate Buy and Sell Signals
Buy Signal
A buy signal is generated/derived when the Bulls Power indicator oscillator technical indicator moves above Zero center-line mark.
In an upwards trend - the Price HIGH is higher than EMA trading indicator - so the Bulls Power is above zero & the Oscillator Technical is located above zero-line.
Bulls Power Buy Trading Signal
Exit FX 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 the zero center line.
The Triple Screen method for trading this Bulls Power suggests identifying the price trend on a higher chart time frame (like daily time frame) and applying the Bulls Power trading indicator signal on a lower chart time frame (like hourly time frame). Bulls Power signals are traded according to the Bulls Power - but only in direction of the long term trend in the higher chart timeframe.
How Do I Use MT4 Bulls Power on MT4 Platform Software?
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