Elder Ray Bull Power (ERP) AND Elder Ray Bear Power (ERBP)

Elder-Ray Bull Power Index is a technical indicator developed by Alexander Elder. It measures the amount of buying momentum in the market.Elder-Ray Bear Power developed by Alexander Elder, measures the amount of selling momentum in the market.

 

BUY{
SET BUP = ERP(13,EXPONENTIAL);
SET BEP = ERBP(13,EXPONENTIAL); 
BUP > 0.001 AND BEP < 0.001 ;}

SELL{
SET BEP = ERBP(13,EXPONENTIAL); 
SET BUP = ERP(13,EXPONENTIAL);
BEP > 0.001 AND BUP < 0.001;}

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