Adding MetaTrader 4 Bulls Power Indices Technical Chart Indicator
Step 1: Open the Indices Trading Platform Navigator Window
Open the Navigator window as shown below; Go to “View” menu (click), then select the “Navigator” window (click), or From Standard Toolbar click the “Navigator” button or press short cut keyboard keys “Ctrl+N”
On the Navigator window, select “Indicators”, (Double Click)
MetaTrader 4 Bulls Power Indices Indicator
Adding Bulls Power MetaTrader 4 Indices Technical Chart Indicator
Expand the menu by clicking the expand button marker (+) or double click the “indicators” menu, after this the button will appear as (-) and will now display a list as shown below - select the Bulls Power stock indices chart indicator from this list of stock indices indicators so as to add the Bulls Power stock indexes technical indicator on the stock indexes trading chart.
From the Above window you can then place Bulls Power indicator that you want on the Indices Trading chart
How to Put Custom Bulls Power Stock Indexes Indicator on MetaTrader 4 and How to Install Bulls Power Stock Indexes Indicator MetaTrader 4
If the stock indices indicator you want to add is a custom indicator - for example if the Bulls Power indicator you want to add is a custom indicator you will need to first add this custom Bulls Power indicator on the MT4 stock indexes trading platform and the compile the custom Bulls Power indicator so that the newly added Bulls Power custom indicator appear on the list of custom indicators on the MetaTrader 4 stock indexes trading platform.
To learn how to install Bulls Power indicators on MetaTrader 4, how to add Bulls Power indicator window to MetaTrader 4 and how to add Bulls Power custom indicator on MT4 stock indexes trading platform - How to add a custom Bulls Power indices trading Indicator on MT4.
About Bulls Power Indices Indicator Tutorial
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.
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.
Bulls Power = High Indices Price - Exponential Moving Average
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.
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.
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.