Bull/Bear Buy/Bail Candles — Indicator by EsIstTurnt

centeredoscillator bearpower multitimeframe bullbearpower conditional coloredbars candles bullbearfilter conditional_trading signals bullsandbears

Based on BullBearPower indicator, this is a heavily modified version with colored candles to show when bulls or bears are buying or bailing. Includes Fibonacci Levels based on Highest/Lowest value in variable length, along with optional second timeframe and alternative calculation for candles and linear regression curves for increased versatility. Green = bullish /long, Aqua = still-bullish albeit weakening, blue = weak albeit strengthening and red = weak/short. Perfect as a confirmation indicator for those looking to time markets.

Release Notes:

Fixed Fib Bands, added more optionality for Fib levels, improved color scheme, added fill to linear regression curves, modified calculations for more accuracy hopefully, toggle switch between candles and normal line plot.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

Want to use this script on a chart?