Bull power and Bear power AFL
Bull Power :
In the market buyers are trying to raise the price of the stock, and the price at the end of the period ( EOD ) is above the EMA (Exponential Moving Average) for the same period, then they are succeeding in raising the price.
Bull Power = Highest Price (13 period) – EMA (13 period)
AFL in text form.
// Daily BullPower
_SECTION_BEGIN("Bull Power EMA");
/*Bull Power*/
Lookback = Param ("EMA Lookback",13);
BullPower = High - EMA(Close,Lookback);
Plot (BullPower, "", ParamColor ("Color", colorCustom11), styleHistogram );
Title = Name() + " " + Date() + " Bull Power" + WriteVal (Lookback, 3.0) + " Day: " + WriteVal (BullPower, 5.3);
GraphXSpace = 5;
_SECTION_END();
Bear Power :
If sellers in the market are trying to lower the price of the stock, and the price at the end of the period is below the EMA for the same period, then they are succeeding in lowering the price.
Bear Power = Lowest price (13 period) – EMA (13 period)
// Daily BearPower
_SECTION_BEGIN("Bear Power EMA");
/*Bear Power*/
Lookback = Param ("EMA Lookback", 13);
BearPower = Low - EMA(Close,Lookback);
Plot (BearPower, "", ParamColor ("Color", colorRed), styleHistogram );
Title = Name() + " " + Date() + " Bear Power" + WriteVal (Lookback, 3.0) + " Day: " + WriteVal (BearPower, 5.3);
GraphXSpace = 5;
_SECTION_END();
About Money99
Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.
