OPEN-SOURCE SCRIPT
Updated Сила быков и медведей
The indicator is based on the idea that the buyer's strength is represented on the chart as the distance from the bar's minimum to the close, and the seller's strength as the distance from the bar's maximum to the close.
The indicator finds the difference between the buyer's and seller's strength for each bar, and then the arithmetic mean for the given period.
If the indicator value is above 0, then the buyer was stronger than the seller over the given period.
If the indicator value is below 0, then the seller was stronger than the buyer over the given period.
The indicator finds the difference between the buyer's and seller's strength for each bar, and then the arithmetic mean for the given period.
If the indicator value is above 0, then the buyer was stronger than the seller over the given period.
If the indicator value is below 0, then the seller was stronger than the buyer over the given period.
Release Notes
The indicator is based on the idea that the buyer's strength is represented on the chart as the distance from the bar's minimum to the close, and the seller's strength as the distance from the bar's maximum to the close.The indicator finds the difference between the buyer's and seller's strength for each bar, and then the arithmetic mean for the given period.
If the indicator value is above 0, then the buyer was stronger than the seller over the given period.
If the indicator value is below 0, then the seller was stronger than the buyer over the given period.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.