Elder Ray Indicator Free
- 지표
- Uriel Alfredo Evia Canche
- 버전: 1.0
"Elder Ray" or "Ray" indicator is based on the Dr. Alexander Elder's oscillators: Bulls & Bears Power. Both of them works with an EMA. This indicator is used by traders to identify divergence, market directions and more... Dr. Elder's method generally uses a 13-day EMA Period but this can be modified based on your personal demand.
The calculations are:
- Bulls Power= high candle - EMA close
- Bears Poder= low candle - EMA close
- Lime line represents Bulls Power and OrangeRed line, shows Bears Power.