BullsBearsVolume: Combining Bull and Bear Signals with Volume

Summary

BullsBearsVolume combines values from the Bulls and Bears indicators into a single measure. The document specifies three cases for combining the two inputs: when both are positive, their difference is used; when both are negative, the reverse difference is used; and when their signs differ, they are added. The resulting value is then multiplied by a volume coefficient.

Volume may be based on tick activity or real traded volume, selected through the indicator inputs. A configurable delta acts as a flat-noise threshold: values below zero are reset to zero when this level is set. The document mentions example charts for EURUSD on an hourly timeframe and a parameter-setting view, but supplies no interpretation of those examples, formula for the underlying Bulls and Bears inputs, performance statistics, or trading rules. The description explains the construction of the indicator, not evidence that it predicts prices or improves trading results.

Key ideas

• The indicator combines Bulls and Bears values according to whether their signs match.
• The combined reading is multiplied by a coefficient based on selected volume data.
• The volume input can use tick volume or real volume.
• A configurable delta can remove negative readings by setting them to zero.
• The examples are chart references and do not provide performance evidence or trading rules.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.