Free Forex Strategies and indicators
  • Home
  • Download
    • MT4 Indicators
    • MT5 Indicators
    • Trading Systems
    • Courses
    • Books
  • Forex Signals
  • Shop
  • Company
    • About Us
    • Contact us
    • Terms & Conditions
    • Privacy Policy
    • DMCA Policy
No Result
View All Result
Contact Us
Free Download Forex Profit System Metatrader Indicators At  Forex Profit Way
No Result
View All Result
Home Mt4 Indicators
Download Total Power Indicator For Mt4

Download Total Power Indicator For Mt4

in Mt4 Indicators
0
SHARES
Share on FacebookShare on Twitter

Total Power Indicator is an updated version of the Alexander Elder’s Elder-Ray index, which is based on the power strength of bulls and bears, along with a 13 day EMA. The indicator was created by Daniel Fernandez in 2011 and was published in the magazine “Currency Trader.”

Total Power Indicator

The Elder-ray index was created with a main objective to determine trends based on pressure of bulls and bears. The indicator used three technical indicators, which showed how bullish and bearish price fluctuations were formed according to the price. The drawback of this index is that it does not make clear signals on market entrance.

GBPUSD H1 Time-frame, Total Power Indicator

Hence, the Total Power Indicator for MT4 was developed to provide particular outlook for the market price fluctuations, along with the difference between the current and previous price. The indicator includes the 13 day EMA and two Alexander Elder’s indexes – bull and bear power.

Possible uses of Total Power Indicator:

If 100 level is reached by either Bulls or Bears along with the Total indicator, then we can enter a long or short trade accordingly.

If Bull line crosses Bear line from the bottom upwards, then we have a buy signal. While if Bear line intersects Bull line from top downward, then it’s an indication to sell.

If either Bulls or Bears intersect the level of 50 to the topside, then we have bullish or bearish bias accordingly.

Note: Bull power is the green line. Bear power is the red line. Total power is the blue line.

Download Now

Free Download

 



Don't Miss Pro Indicators And Trading Systems

Check Now

Related Posts

TRAMA Adaptive Moving Average Indicator Mt4
Mt4 Indicators

TRAMA Adaptive Moving Average Indicator

Three Bar Reversal Pattern Indicator Mt4
Mt4 Indicators

Three Bar Reversal Pattern Indicator

Parabolic SAR Oscillator Indicator Mt4
Mt4 Indicators

Parabolic SAR Oscillator Mt4 Indicator

FVG Channels Indicator Mt4
Mt4 Indicators

FVG Channels Indicator

ICT Killzones Indicator Mt4
Mt4 Indicators

ICT Killzones Indicator

TTF Hist Indicator mt4
Mt4 Indicators

TTF Hist Indicator

Premium Forex Indicators

  • macd-blaster-pro-buy-rules-intro

    MACD BLASTER PRO TRADING SYSTEM MT4

  • Download Elliott Wave Good Trade 3 Forex Indicator For Mt4

    Download Elliott Wave Good Trade 3 Forex Indicator For Mt4

  • NITROFX Forex Trading System

    Download NitroFX Forex Trading System

  • edc-scalper-scanner-Picture 3-605w294h

    Scalper Scanner Mt4 Indicator

  • EURUSDH1-fx-shock-pips-1

    FX SHOCK MT4 System

  • AFL Winner Indicator For Mt4

    AFL Winner Indicator For Mt4

  • Andrea Indicator Mt4

    Andrea Indicator Mt4

  • Download Bollinger And Starc Bands Forex Signals Indicator For Mt4

    Download Bollinger And Starc Bands Forex Signals No Repaint For Mt4

Your best source to download Forex indicators

No Result
View All Result
ForexProfitWay: Best Forex Indicators Free Download MT4&MT5

© 2015-2025 Forex Profit Way is a big hub for best forex indicators, trading systems, courses, etc.

Navigate Pages

  • About Us
  • DMCA Policy
  • Terms & Conditions
  • Privacy Policy
  • Advertise
  • Contact us

Follow Us

No Result
View All Result
  • Home
  • Download
    • MT4 Indicators
    • MT5 Indicators
    • Trading Systems
    • Courses
    • Books
  • Forex Signals
  • Shop
  • Company
    • About Us
    • Contact us
    • Terms & Conditions
    • Privacy Policy
    • DMCA Policy

© 2015-2025 Forex Profit Way is a big hub for best forex indicators, trading systems, courses, etc.