The Bulls vs Bears Market Power indicator for Metatrader 5 measures bulls versus bears in the market and provides signals based on that information.
The indicator get displayed as a 2-color signal line that appears in a separate chart window.
How does it provide trading signals to currency traders?
- A green line is a buy signal.
- A red line is a sell signal.
The Bulls vs Bears Market Power indicator is capable of performing well as a standalone trading tool in trending markets.
The following indicator customization options are available: bands period, bands deviation, smoothing period, smoothing phase, sound alerts, email alerts, and push notification alerts.
Please make yourself familiar with this technical indicator and test it first on a demo account before applying it to live trading.
It supports all time frames and Forex pairs.
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Bulls vs Bears market_power.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Bulls vs Bears Market Power indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Bulls Vs Bears Market Power Indicator?
Find a simple trading example below:
Buy Signal
- A green colored line generates a buy signal.
- Open a buy market order and place a stop loss below the previous swing low price.
- Close the buy trade for a fixed profit target, or wait for the red colored sell line.
Sell Signal
- A red colored line generates a sell signal.
- Open a sell market order and place a stop loss above the previous swing high price.
- Close the sell trade for a fixed profit target, or wait for the green colored buy line.
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Bulls vs Bears market_power.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Bulls vs Bears market_power.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration