Simple backtest for Bears Bulls Impulse found here: What this backtest includes: -Customization of inputs for MACD calculation -Take profit 1 (TP1), and Stop-loss (SL), calculated using standard RMA-smoothed true range -Activation of TP1 after entry candle closes -Signal-cross entry signals -Longs and shorts Happy trading!
Bears Bulls Impulse, originally known as the the Elder-Ray Index, is a technical indicator developed by Dr. Alexander Elder that measures the amount of buying and selling pressure in a market. This indicator consists of two indicators known as "bull power" and "bear power," which are derived from a 13-period moving average. Included: - Various average modes to...
MT4 iTrends ported over. Adapted Bulls/Bears Power from HPotter indicator. I can't confirm if that represents the iBullsPower/iBearsPower function from MT4. Do try and provide your feedback !