Bull and Bear Balance Indicator (TASC October 2003)

To recreate Vadim Gimelfarb’s bull and bear power indicators in NeuroShell Trader, select “New Indicator…” from the Insert menu and use the Indicator Wizard to create the following indicators:

COND1 = A<B(Close, Open)
COND2 = A>B(Close, Open)
COND3 = A<B(Lag(Close, 1), Open)
COND4 = A>B(Lag(Close, 1), Open)
COND5 = A<B(Subtract(High, Close), Subtract(Close, Low))
COND6 = A>B(Subtract(High, Close), Subtract(Close, Low))

BULL1 = Subtract(High, Low)
BULL2 = Subtract(High, Open)
BULL3 = Max2(BULL2, Subtract(Close, Low))
BULL4 = Max2(Subtract(Open, Lag(Close, 1)), BULL1)
BULL5 = Max2(Subtract(High, Lag(Close, 1)), Subtract(Close, Low))

BEAR1 = Subtract(High, Low)
BEAR2 = Subtract(Open, Low)
BEAR3 = Max2(BEAR2, Subtract(High, Close))
BEAR4 = Max2(Subtract(Lag(Close, 1), Open), BEAR1)
BEAR5 = Max2(Subtract(Lag(Close, 1), Low), Subtract(High, Close))

To recreate the actual bull power, bear power and BBB indicators, select “New Indicator…” from the Insert menu and use the Indicator Wizard to create the following indicators:

BULLPOWER = IfThenElseIfThen(COND1, IfThenElse(COND3, BULL5, BULL3), COND2, IfThenElse(COND4, BULL1, BULL4), IfThenElseIfThen(COND6, IfThenElse(COND3, BULL5, BULL2), COND5, IfThenElse(COND4, BULL1, BULL4), IfThenElseIfThen(COND4, BULL3, COND3, BULL4, BULL1)))

BEARPOWER = IfThenElseIfThen(COND1, IfThenElse(COND4, BEAR4, BEAR1), COND2, IfThenElse(COND4, BEAR5, BEAR3), IfThenElseIfThen(COND6, IfThenElse(COND4, BEAR4, BEAR1), COND5, IfThenElse(COND4, BEAR5, BEAR2), IfThenElseIfThen(COND4, BEAR4, COND3, BEAR3, BEAR1)))

BBB = ExpAvg(Subtract(ExpAvg(BULLPOWER, 20), ExpAvg(BEARPOWER, 20)), 30)

File Download

tip1003.exe

Was this article helpful?

Yes No

Related Articles