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Bull and Bear Balance Indicator for Metastock
Rating:
5 / 5 (Votes 2)
Tags:
oscillator, metastock
Vadim Gimelfarb’s article in the issue of Stocks and Commodities Magazine, “Bull And Bear Balance Indicator,” references a histogram created by subtracting his bear power indicator from his bull power indicator. The result is then smoothed by a 30-period average. The following formula will reproduce that histogram.
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Indicator / Formula
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r1:=If(Ref(C,-1)<O,Max(O-Ref(C,-1),H-L),H-L); r2:=If(Ref(C,-1)>O,Max(Ref(C,-1)-O,H-L),H-L); bull:=If(C=O, If(H-C=C-L, If(Ref(C,-1)>O, Max(H-O,C-L), r1), If(H-C>C-L, If(Ref(C,-1)<O, Max(H-Ref(C,-1),C-L), H-O), r1)), If(C<O, If(Ref(C,-1)<O, Max(H-Ref(C,-1),C-L), Max(H-O,C-L)), r1)); bear:=If(C=O, If(H-C=C-L, If(Ref(C,-1)<O, Max(O-L,H-C), r2), If(H-C>C-L, r2, If(Ref(C,-1)>O, Max(Ref(C,-1)-L,H-C), O-L))), If(C<O, r2, If(Ref(C,-1)>O, Max(Ref(C,-1)-L,H-C), Max(O-L,H-C)))); Mov(bull-bear,30,S)
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