The Bulls and Bears MT4 Indicator are two indicators that are designed to show the underlying strength of the current trend. On the chart below you can see I have added both mt4 indicators to one indicator window.
To apply both indicators to one window you add one indicator and then drag the other one into the same indicator window. This will line up the indicators so both centre lines are in the same place. As you can see it is quite straight forward. When the bears out weigh the bulls the histogram will be mainly red and below the zero line. And when the bulls have the strength the indicator will show mainly green above the zero line.
As the arrows show the changes from one to another line up nicely with changes in trend. They are very straight forward mt4 indicators to read. I think this type of indicator suits the discretionary trader more than the mechanical trader and allows room for interpretation but are decent enough trend indicators in their own right. There are indicators which have combined the two indicators and show a combination of the two but I think it is quite good to see what is happening to both indicators.
Thanks for the idea about lining these up. To explain a little more, it helps if you add the Bull indicator then write its Fix minimum and fix maximum numbers down, then add the Bear indicator, check both fix min and fix max boxes and enter the numbers from the Bul lindicator. In my case the numbers were This is a nice indicator as it appears to be predictive rather than lagging: It was helpful to learn about overlapping both the bulls and bears indicator.
Is it possible for you or Craig to elaborate more on the Fix minimum and fix maximum numbers in reference to using it as a leading indicator? I also saw the download links to the indicators. Indicators may well be under default for some people. Maybe not for others. Either way they are free. Fill out the form below to signup to our newsletter and we'll drop you a line when new Indicators and Expert Advisors are added.
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