Purpose of Bulls Power
Bulls Power, developed by Alexander Elder, measures how strongly buyers can push price above its average. It is the difference between the candle's high and an exponential moving average. The higher the value, the stronger the buyers.
How It Works
When you select Bulls Power in the Trade Rule block, you can configure it with the following settings:
Period of Bulls Power
The number of candles used for the exponential moving average (standard: 13).
Time Frame of Bulls Power
Sets the chart time frame for the Bulls Power calculation.
Can be replaced with a variable or input for quick testing and optimization.
Candle ID of Bulls Power
Defines which candle the calculation starts from.
0: Current candle (still forming).
1: Most recently closed candle.
Higher IDs refer to older candles.
Adjust of Bulls Power (Modify the Result)
Apply an adjustment to the calculated value by adding, subtracting, multiplying, or dividing by a number.
Example
If you set:
Period: 13
Candle ID: 1
You get the Bulls Power value of the most recently closed candle. A value that is positive but falling toward 0 suggests buyers are losing strength.
Use Cases
Detect weakening buyers when Bulls Power is positive but falling.
Combine with a trend filter to sell rallies in a downtrend.
Use together with Bears Power for a full picture of buyers and sellers.
⚠ Tip: Bulls Power is usually positive. Look at its direction and its distance from 0, rather than at a fixed number.