Daily Bear Power
Navigate bearish trends with the Daily Bear Power AFL for Amibroker. This powerful tool, available for free download, is designed to measure the strength of bearish market forces on a daily basis. Integrated with the accurate Amibroker data feed, Daily Bear Power provides traders with valuable insights into bearish momentum. Whether you’re a trend follower or a contrarian, this AFL can be a crucial component of your toolkit, helping you make more informed decisions in response to daily bearish market conditions.
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_SECTION_BEGIN("Bear Power EMA");
Lookback = Param ("EMA Lookback", 13,1,50,1);
BearPower = Low - EMA(Close,Lookback);
Plot (BearPower, "", ParamColor ("Color", colorRed), styleHistogram );
Title = Name() + " " + Date() + " Bear Power" + WriteVal (Lookback,3.0) + " Day: " + WriteVal (BearPower, 5.3);
GraphXSpace = 3;
_SECTION_END();