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Power oscillator
Source: https://fxcodebase.com/code/viewtopic.php?f=38&t=61470
Forum: 38 · Topic 61470 · 1 post(s)
Power oscillator
Alexander.Gettinger · Tue Nov 18, 2014 12:15 pm
The indicator compares the power of bulls and bears.
Formulas: Power = 100*(BullPower - BearPower), where BullPower = MVA(Bulls) with [Lookback_Length] number of periods, BearPower = MVA(Bears) with [Lookback_Length] number of periods, Bulls = 1, if High>EMA(Close price), else Bulls = 0, Bears = 1, if Low<EMA(Close price), else Bears = 0.
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