[NM]Bull and Bear Power trade signal - thanks to [RS]關於FX:EURUSD由Nico.Muselle提供

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The base code for this indicator was created by RicardoSantos and can be found here :

What I added is a signal line that indicates when to buy and when to sell.

Advised use :

Combine with a zero-lag indicator like ZeroLagEMA_LB by LazyBear (suggested period = 34)

Then use the following Rules of engagement :
Current price > ZLEMA & Signal line of BBP_NM is green : BUY
Current price < ZLEMA & Signal line of BBP_NM is red : SELL

Please click the like button if you dig this indicator !

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Hi Nico .did u try any back test on this moving average ?? It look pretty nice.Thanks Martin

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Hello Nico, nice indicator!
Could you give me the link to it's description to understand it and to explain for those who is not in the net.

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aibek

easy way to understand it is if Current price is above ZLEMA & Signal line of BBP_NM is green : BUY Signal
Current price is below ZLEMA & Signal line of BBP_NM is red : SELL Signal

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ledoongcuc

thanks for reply, I meant I need underlying math of it not use of it.

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It looks like an interesting indicator. I'm seeing a large head and shoulders pattern. It'll be interesting to see if it resolves to the downside estimated target of 1.08 or so.......

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Thank you Nico for sharing, I will give a try on a GBP/USD 240 chart and give some feedbacks in the coming days.

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looks good but still as indicators are they lag price. Looks good when you look back but in fwd test you can see if it is to give a buy signal now the green line will start 2 bars back. But as you say use in complimentary to other trading signals. Nice looking indicator though appreciate your effort and willingness to share.

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tst

Thanks for your feedback. I have noticed this as well and the issue is in the original script when there is no data for either bulls or bears it does not plot the line. I'm working on a solution for that as we speak. Will keep you updated through this post. :)

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tst

took screen snap just as it gave buy signal. Im thinking maybe have the indicator run flat so it keeps up with price as if drawn. just a suggestion but guess its much the same.

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tst

Thanks again, see my update above. Expect a fix very soon ;)

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