Bears Power oscillator developed by Alexander Elder & it based on estimation of bears Power balance since changes in this balance initially signalize about possible trend reversal.
There is always a war between the bears (Pushing prices down) & bulls (Pushing prices up) that depend on the demand& supply in the market & at end of each day there is a result of this war (high or low prices) so during the day it’s very important to be able to estimate the reverse of the line chart.
If trend indicator is up-directed and the Bears Power index is below zero, but growing, it is a signal to buy.
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