# Indices Bulls Power Indices Expert Advisor Setup

Indices Bulls Power Indices Expert Advisor Setup - Setting Up Bulls Power Indices Expert Advisor - A Indices trader can come up with an Bulls Power Indices Expert Advisor based on the awesome stock indices indicator explained below.

Indices Bulls Power Expert Advisor rules can be combined with other indices indicators to come up with other EA Indices Trading Robots that trade using rules based on two or more indicators combined to form a stock indexes trading system.

# Bulls Power Indices Technical Analysis and Bulls Power Indices Trading Signals

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 and bears.

This indicator aims at identifying if a bullish indices trend will continue or if the stock indexes price has reached a point where it might reverse.

**Calculation**

A Indices Price bar has 4 parameters: the **Opening**, **Closing**, **High** and **Low** of the stock indexes price bar.

Each Indices Price bar either closes higher or lower than the previous stock indexes price bar.

The highest stock indexes price will indicate the maximum power of the Bulls within a indices price period.

The lowest stock indexes price will indicate the maximum power of the Bears within a indices price period.

This Indicator uses the High of the stock indexes price and a Moving Average (Exponential)

The moving Average represents the middle ground between sellers and buyers for a certain stock indexes price period.

Therefore:

Bulls Power = High Indices Price - Exponential Moving Average

**Bulls Power - **Indices Bulls Power Expert Advisor Setup

## Indices Technical Analysis and Generating Indices Trading Signals

## Buy Indices Trading Signal

A buy stock indices signal is generated when the Bulls Power oscillator moves above Zero.

In an up indices trend, the HIGH is higher than EMA, so the Bulls Power is above zero and Histogram/Oscillator is located above zero line.

Indices Bulls Power Expert Advisor Setup

**Exit Signal**

If the HIGH falls under EMA then it means that stock indexes price are starting to fall, the Bulls Power histogram fall below the zero line.

Indices Bulls Power Expert Advisor Setup

The Triple Screen method for this indicator suggests identifying the stock indexes price indices trend on a higher chart interval (like daily time frame) and applying the bulls power on a lower chart interval (like hourly time frame). Signals are traded according to the indicator but only in the direction of the long term indices trend in the higher time frame.