Bull-Bear Power Indicator
The Bull-Bear Power Indicator Amibroker AFL is a valuable tool for traders, and its effectiveness depends on the accuracy of Amibroker data. With reliable data feeds, traders can use this indicator to assess the power balance between bulls and bears in the market, making informed trading decisions based on real-time information.
/* Bull-Bear power 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 ) ) ) ) ) ); Plot( MA( BearPower, 2 ), "2-day MA of BearPower", colorRed ); Plot( MA( BullPower, 2 ), "2-day MA of BullPower", colorGreen );