Elder Ray Bull Power

Elder Ray Bull Power is built with similar Bear Power principles, but with the difference that Elder Ray Bull Power highlights bulls in the market, bullish movements, or rather in the daily battle between bulls and bears, indicates when bulls win by measuring the trend. The purpose of this indicator is to measure the pressure of bullish trends over a given period of time. The Elder Ray Bull Power technical analysis indicator helps to identify possible changes in the trend. As we said Elder Ray Bull Power is built with the same ratio of Elder Ray Bear Power, so at most current a Moving Average is subtracted, instead in the Elder Ray Bull Power from the minimum current a Moving Average was subtracted. In an upward trend the Moving Average is higher than the maximum and therefore the Elder Ray Bull Power falls below zero. This indicator is used to open positions to the upside, and it also provides exit points, in particular, a sales position must be opened when the Elder Ray Bull Power oscillator is positive, but begins to fall, to decrease; instead you need to open a position to the upside when the indicator starts to grow on the zero line. Therefore to summarize with Elder Ray Bear Power we calculate the potential for the price to fall below the moving average, instead for the Elder Ray Bull Power the potential for the price to rise above the Moving Average.