Bulls Power oscillator developed by Alexander Elder & it based on estimation of bulls 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 down-directed and the Bulls Power index is below zero, but falling, it is a signal to sell.
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