Bears/Bulls Power Indicator
The Bear and Bull power indicator is developed by Alexander Elder. It is designed to measure the power of buyers (Bull) and sellers (Bears) in the market. When the market is in a strong trend, bull powers are usually positive and bear powers are negative. But being the other way around, if the bull powers turn negative and the bear powers turn positive, this indicates a strong move to the downside in the markets.
Bears/Bulls Power Indicator calculation
Bears Power = Low Price – Exponential Moving Average
Bulls Power = High Price – Exponential Moving Average