bear_power
Function Name: bear_power
Tags: Exponential Moving Average
Category: Trend
Bear Power should normally remain negative. But Dr. Alexander Elder suggests using the exponential moving averages slope to determine the market trend direction. He describes the best buy signals as being when bullish divergence occurs between Bear Power and price (i.e. lower lows in price and higher lows in Bear Power) Buying conditions: (1) Prices are trending upwards according to the 13-period exponential moving average and (2) Bear Power is negative, but rising
Period |
EMA period |
|
Default Value: 13 | Minimum: 2 | Maximum: 999 |
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Type: Numeric |