The Bulls Power Metatrader 4 Forex indicator is an oscillator that gauges the power of buyers (bulls) in the currency market.
It’s a measuring tool which tracks the power bulls are having in the market.
We can either have increasing or decreasing buyers in the market. Such information can assist in determining likely trend direction.
Deploy the indicator for any trade style (scalping, day trading, swing trading).
- In order to get a vivid picture of how the market is fairing, it is important for traders to closely monitor the manner in which the silver histograms on the Bulls MT4 indicator are aligned (below or above the zero-horizontal level).
- Generally speaking, the more positive the histograms of the Bulls indicator are, the stronger the Bulls market, while the more negative the histograms on the Bulls indicator are, the weaker the bulls market (invariably implying a strong bears market).
- The market is said to be bullish when the silver histograms are aligned above the zero-horizontal level, and bearish when same gets positioned below the zero-horizontal level.
Feel free to explore the Bulls Power Forex indicator’s different parameters and settings to create your own personalized indicator setup.
Bulls Power Forex Indicator Chart (CAD/JPY H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Bulls Power MT4 Indicator
Buy Signal: Go long when the silver histograms get aligned above the zero-horizontal level of the Bulls indicator, while price is seen to open and close above the middle line of the Bollinger Bands MT4 indicator (while trading somewhat along the upper outer band).
Sell Signal: Go short when the silver histograms get aligned below the zero-horizontal level of the Bulls indicator, while price is seen to open and close below the middle line of the Bollinger Bands MT4 indicator (while trading somewhat along the lower outer band).
Exit buy trade: Close all buy orders if while a bullish trend is running, the Bulls indicator prints a silver histogram below the zero-horizontal level, else, price opens and closes below the middle line of the Bollinger Bands indicator.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the Bulls indicator prints a silver histogram above the zero-horizontal level, else, price opens and closes above the middle line of the Bollinger Bands indicator.
Tips: The Bulls Power indicator can be traded as a standalone indicator.
However, in order to improve our trading results, we combined it with the Bollinger Bands indicator to enhance its setup rules.
Download This Forex Indicator
Adjustable Parameters & Settings
Bulls Period, colors, width, style.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Oscillator
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.