IncBullsBearsOnArray - MetaTrader 5 Library - MT4/MT5 Resources
The CBullsBearsOnArray class is designed to calculate values on the Bulls Strength and Bears Strength indicator buffers.
The method OnInit( ) function with the following parameters is called in the initialization( ) function:
The method OnCalculate() is called with the following parameters in the resolve() function:
Additional methods:
Test_BullsBearsOnArray.mq5 is a sample indicator showing application of CBullsBearsOnArray class. IncBullsBearsOnArray file must be placed in MQL5\Include\IncOnArray in the terminal data folder (IncOnArray folder must be created). The CMAOnArray class in the IncMAOnArray file is required to work properly. Can be found here .
It is important to be able to estimate the balance of power between bulls and bears because changes in this balance initially signal a possible trend reversal. This task can be solved using the Bull Power and Bear Power oscillators developed by Alexander Elder and described in his book Trading for a Living .
Attachment download
📎 incmaonarray.mqh (5.07 KB)
📎 incbullsbearsonarray.mqh (2.99 KB)
📎 test_bullsbearsonarray.mq5 (3.29 KB)
Source: MQL5 #646
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