It shows the structure of bullish and bearish power below the surface of the markets. Elder-ray combines a trend- following moving average Dutch tax system & Taxes in the Netherlands with two oscillators to show when to enter and exit long or short positions. A moving average reflects the average consensus of value.
An extension of TradingView’s new ADR and bull-bear power indicators, this indicator is helpful for spotting abnormal bullish and bearish activity to get good contrarian entry points. How to interpret the indicator When the white columns cross over the red line, it’s a bearish indicator since the asset has been overbought. Base candles are white in the chart, and you can place your order at the good…
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Developed by Dr Alexander Elder, the Elder-ray indicator measures buying and selling pressure in the market. The Elder-ray is often used as part of the Triple Screen trading system but may also be used on its own. Dr Elder uses a 13-day exponential moving average to indicate the market consensus of value. Bear Power measures the ability of sellers to…
BEARS OF POWER TRADER
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