OPEN-SOURCE SCRIPT
Updated JS Bull/Bear Power
I created this Indicator for all chart lovers.
This Indicator measures the wick parts of candles and sum it up. Wick part of candle is a sign of strength that's why it measures the 60 bars of candles wick. then sum it up and converted it in percentage. The output is indicated in the last 10 candles. that's how simple this indicator is but very useful to analyze the strength of every candles.
The upper numbers is the bear power.
The lower numbers is the bull power.
Happy Trading
This Indicator measures the wick parts of candles and sum it up. Wick part of candle is a sign of strength that's why it measures the 60 bars of candles wick. then sum it up and converted it in percentage. The output is indicated in the last 10 candles. that's how simple this indicator is but very useful to analyze the strength of every candles.
The upper numbers is the bear power.
The lower numbers is the bull power.
Happy Trading
Release Notes
In this version I remove the decimals in the output value of this indicator.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.