Bear and Bull volume indicator

v10.3
Bear and Bull volume indicator

This code is mainly for Wyckoffians and can be used in accumulation/distribution phases to spot the change of forces.

The volume bars are showing who is stronger in the period defined in the timeframe (more green means that bulls are running the show, in this case, in the weekly period).

The moving averages are showing the same information but based on an historical point of view (when the bull line crosses over the bear line bulls are becoming stronger in the longer period).

I suggest to use a period of 22 or more and always based on the timeframe in use.

Blue skies!!

 

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No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

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  1. gabri • 248 days ago #

    Cambia la riga cosi’:
    return volbear coloured (205,0,0) , volbull coloured (0,190,0) , mmred coloured (255,0,0) as “Bear average”,mmgreen as “Bull average”

    non verra’ visualizzato un istogramma ma una linea normale

    • Kris75 • 242 days ago #

      Hi Gabri,

      I am trying to set a simple strategy based on your very cool indicator

      Here are the conditions:

      BUY = ENTRY :

      if the bull-volume-green-bar CROSSES (i.e is superior) the simple moving average of the past 23 bull-volumes
      if the bull-volume-green-bar CROSSES (i.e is superior) the simple moving average of the past 23 bear-volumes

      SELL = EXIT:

      if the bear-volume-green-bar CROSSES the simple moving average of the past 23 bull-volumes
      if the bear-volume-green-bar CROSSES the simple moving average of the past 23 bear-volumes
      I tried to use the automatic coding system but it does not work; I tried also to code it myself using moving average but it is not working either.

      Can you help me on this?

      Thanks !

      Chris

  2. gabri • 242 days ago #

    Kris, I will answer on the forum at the following address https://www.prorealcode.com/topic/strategie-sur-bull-bear-volumes/#post-66030.
    Give me a few days since I am in the process of moving.

  3. segie • 233 days ago #

    Hi Guys,

    Will it be possible to add “Texts” to this code. When the bull line crosses over the bear line I would like to insert a “BULL” text on the:
    1.Corresponding volume bar or histogram on this indicator
    2.On the corresponding Price candle. I would like the “Bull” text to appear just above the candle stick.
    3.Vice versa for when the bear line crosses the bull line.

    Regards,
    Segie

  4. gabri • 230 days ago #

    Segie, I can add text on the graph of THIS indicator. To add text ALSO on the price graph you need to do another code and everytime you change the settings on the bear bull volume indicator you need to change the settings also on the second one….you might end up having not the same info and this is not good in my opinion.

  5. inder1211 • 81 days ago #

    bro volume indicator works on mt 4 ?

    • Nicolas • 81 days ago #

      This indicator is for ProRealTime (PRT), you can ask for private job on this page: https://www.prorealcode.com/trading-programming-services/

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