Bull Bear Power

A custom indicator created by James on TrendSpider. You can import this custom indicator into your TrendSpider account. Don't have TrendSpider? Create an account first, then import the custom indicator.

The Bull and Bear Power indicator is a technical analysis tool that measures the balance between buyers (bulls) and sellers (bears) in a market. It was developed by Alexander Elder and is used to identify trend reversals, confirm trend strength, and detect divergences between price and momentum

Source code

This indicator had been implemented by James in JavaScript on TrendSpider. Check out the developer documentation to learn more about JS on TrendSpider.

describe_indicator('Bull Bear Power', 'lower');

const lengthInput = input('Length', 13, {min: 2, max: 50});
const highPrices = high;
const lowPrices = low;
const closePrices = close;

// Calculate Exponential Moving Average (EMA) of the close prices
const closeEMA = ema(closePrices, lengthInput);

// Calculate Bull Power and Bear Power
const bullPower = for_every(highPrices, closeEMA, (high, emaClose) => high - emaClose);
const bearPower = for_every(lowPrices, closeEMA, (low, emaClose) => low - emaClose);

// Calculate BBP by adding Bull Power and Bear Power
const bbp = for_every(bullPower, bearPower, (bull, bear) => bull + bear);

// Paint BBPower using histogram style with dynamic coloring
paint(bbp, "BBPower", for_every(bbp, (value) => value >= 0 ? "green" : "red"), "histogram");