Created by: Waddah Attar
If you're looking to gauge the strength of market bulls and bears, the Bear_Bulls_Power indicator is a straightforward tool that offers insights in a single window. This handy indicator helps traders like us visualize market dynamics without the clutter.
To get started, you'll need to incorporate the SmoothAlgorithms.mqh library. Just copy it to your <terminal_data_folder>\\MQL5\Include directory. For a detailed explanation on using these classes, check out the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
This indicator first made its debut in MQL4 and was published on Code Base at mql4.com back on March 23, 2016. It's been a helpful resource for traders ever since!
Fig1. The Bear_Bulls_Power indicator