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Bears vs. Bulls Forex Indicator

June 19, 2011 (Last updated on June 26, 2011)

Total Power Indicator is the latest addition to the MetaTrader indicators list on EarnForex.com. I’ve got the idea of this indicator from the June issue of the Currency Trader magazine. In short, this indicator uses Bull Power and Bear Power standard indicators to produce a more long-term perspective of the current market situation. The MT4 version of it was already coded by Daniel Fernandez. I’ve converted it to MT5, optimizing some of the code routines. The new version has the following advantages:

  • Properly labeled indicator lines + more informative indicator short name.
  • Better handling of the required amount of bars to start drawing the indicator.
  • Junk code removed.
  • Better code readability.

You can get the code of the MT5 and MT4 versions or read more info about this classical technical indicator.

If you find any bugs in this MetaTrader indicator or if you want to make a suggestion regarding its functionality, please post a reply via commentary form below

4 Responses to “Bears vs. Bulls Forex Indicator”

  1. Wilf

    Hi, can you add a few alert options to the indicators please.Been trying to find one with alert functions but no luck so far. appreciate yr help. Thank you.

    Reply

    admin Reply:

    No, sorry, but you can try adding alerts yourself.

    Reply

  2. Jim Q

    This indicator uses three colors:
    LightSeaGreen
    Crimson
    DarkGreen

    Which color corresponds to bears, which color corresponds to bulls and which color corsponds to total power?

    Reply

    admin Reply:

    LightSeaGreen – Total Power
    Crimson – Bear Power
    DarkGreen – Bull Power

    Reply

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