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InstaForex – always at the forefront!Open a trading account and become a part of the InstaForex Loprais Team!

Success history of the team headed by Ales Loprais can become your success history! Trade confidently and head towards leadership like regular participant of Dakar Rally and winner of Silk Way Rally InstaForex Loprais Team does it!

Join in and win with InstaForex!

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Registration is not available for non-EU residents. Please, proceed to the website of the other member of the InstaForex group.
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Trading Platform

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Formula

Total Power = Abs (BearCount - BullCount)*100 / Lookback Period;

BearPower = BearCount*100/ Lookback Period;

BullPower = BullCount*100/Lookback Period.

Trading use

The Elder-ray index was developed to determine trends; the idea of bulls and bears pressure was basic for the index.

The method used in the Elder-ray index is based on three technical indicators, which show the way bullish and bearish price fluctuations are formed according to consensus price. The index includes the 13-day EMA and two Alexander Elder’s indicators - Bull and Bear Power.

The drawback of this approach is the following one it does not make clear signals on market entrance amid absence of global outlook for price movements.

The Total Power Indicator (TPI) for metatrader was developed to provide particular outlook for the market price changes, as well as the difference between current prices and the previous ones.

There are several methods to use this technical indicator:

  • if the level of 100 is reached by levels of Bull (or Bear in terms of sell) and Total and if it is so, then open buys (sells in case the line is Bear);
  • if Bear and Bull lines are crossing, i.e. if Bull line crosses Bear line from the bottom upwards, then buy, if Bear line intersects Bull line from top downward, then sell;
  • if Bull/Bear lines are crossing with indicator lines, i.e. if the line Bull/Bear intersects the level of 50, then one may open buy/sell.
Total Power Indicator

Parameters of InstaForex TotalPower Indicator

LookbackPeriod = 45

PowerPeriod = 10

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