This is my new trend indicator oscillator it showing you strength of bulls and bears on a chart.
There’s the settings:
nothing unusual here just period of bars, type of the MA to calculate values and price type.
How to trade:
Buy trading signal would be if blue (bulls) line crosses up red (bears) line
Sell – vise versa
Also this indicator can be used as a trend direction filter I specially added Bullish and Bearish market markup in the indicator interface
Check the screenshots
Place the indicator’s ex4 file to your metatrader4 indicators directory.