Bulls and Bears Power Average Signal for Bar-Based Forex Trading
Summary
This document describes an expert advisor that checks for trading signals when a new bar appears and only when it has no open position for the current symbol and its magic number. It averages the Bulls Power and Bears Power indicator readings across two bars. A rising average that remains below zero triggers a buy; a falling average that remains above zero triggers a sell. The example also calculates optional stop-loss and take-profit prices before sending an order.
The document names EURUSD on a 15-minute chart as its market and timeframe example, but provides no backtest, trade history, or performance statistics. It does not specify the averaging period or explain position exits beyond the optional price levels. The rules are a compact indicator-based entry illustration, and their behavior would depend on indicator settings, execution, and risk parameters that are not evaluated here.
Key ideas
- The expert advisor evaluates signals only when a new bar forms.
- It averages Bulls Power and Bears Power readings across two bars.
- A rising negative average generates a buy signal, while a falling positive average generates a sell signal.
- Signals are considered only when the advisor has no position for the symbol and identifier.
- Stop-loss and take-profit distances are optional inputs, and no performance results are reported.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.