Bull-Bear Balance Indicator
The Bull-Bear Balance Indicator AFL relies on Amibroker data to provide insights into the equilibrium between bullish and bearish forces in the market. Precise Amibroker data feeds are crucial for traders looking to employ this AFL in their strategies, helping them gauge market sentiment accurately.
/* Bull-Bear Balance indicator */
BullPower =
IIf( C < O,
IIf( Ref( C, -1 ) < O,
Max( H - Ref( C, -1 ), C - L ),
Max( H - O, C - L ) ),
IIf( C > O,
IIf( Ref( C, -1 ) > O,
H - L,
Max( O - Ref( C, -1 ), H - L ) ),
IIf( H - C > C - L,
IIf( Ref( C, -1 ) < O,
Max( H - Ref( C, -1 ), C - L ),
H - O ),
IIf( H - C < C - L,
IIf( Ref( C, -1 ) > O,
H - L,
Max( O - Ref( C, -1 ), H - L ) ),
IIf( Ref( C, -1 ) > O,
Max( H - O, C - L ),
IIf( Ref( C, -1 ) < O,
Max( O - Ref( C, -1 ), H - L ),
H - L ) ) ) ) ) );
BearPower =
IIf( C < O,
IIf( Ref( C, -1 ) > O,
Max( Ref( C, -1 ) - O, H - L ),
H-L ),
IIf( C > O,
IIf( Ref( C, -1 ) > O,
Max( Ref( C, -1 ) - L, H - C ),
Max( O - L, H - C ) ),
IIf( H - C > C - L,
IIf( Ref( C, -1 ) > O,
Max( Ref( C, -1 ) - O, H - L ),
H - L ),
IIf( H - C < C - L,
IIf( Ref( C, -1 ) > O,
Max( Ref( C, -1 ) - L, H - C ),
O - L ),
IIf( Ref( C, -1 ) > O,
Max( Ref( C, -1 ) - O, H - L ),
IIf( Ref( C, -1 ) < O,
Max( O - L, H - C ),
H - L ) ) ) ) ) );
s1=Param("Smooth 1", 20, 1, 100 );
s2=Param("Smooth 2", 30, 1, 100 );
SmoothBBB= MA(EMA( BullPower,s1)-EMA( BearPower,s1),s2);
Caption = "Smoothed BBB ( " + s1 + ", " + s2 + " ) ";
Plot( SmoothBBB, Caption, colorBlue, styleHistogram );