HPotter

Bull And Bear Balance Strategy

This new indicator analyzes the balance between bullish and
bearish sentiment.
One can cay that it is an improved analogue of Elder Ray indicator.
To get more information please see "Bull And Bear Balance Indicator"
by Vadim Gimelfarb.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
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Comments

The article by Vadim Gimelfarb is a little confusing. Would you mind explaining what is going on within your indicator? I would love to use it, seems right up my alley. Thanks!
Reply
HPotter tsendtrades
@tsendtrades, If simple language, we have a lot of condition in which the registration of the market move up or move down. Then take the difference between up and down and see who is the winner. If the value is greater than zero, the winners of the bulls. If the value is less than zero, then winners of the bears.
Reply
@HPotter, Thanks!
Reply
HPotter tsendtrades
@tsendtrades, You are welcome.
Reply