The Bears Power oscillator was developed by Alexander Elder. It measures the difference between the lowest price and a 13-day Exponential Moving Average (EMA)
, plotted as a histogram. If the Bears Power indicator is below zero, it means sellers were able to drive price below the EMA. If the Bears Power indicator is above zero, it means buyers were able to keep the lowest price above the EMA. Bears Power is a fully unbounded oscillator with a base value of 0 and has no lower or upper limit. The indicator is often used in combination with other signals.