Bulls and Bears Power Calculation on Indicator Buffers
Info
The Bulls and Bears Power Calculation on Indicator Buffers is a Library for MetaTrader 5 that the bullsbearsonarray class is designed for the calculation of bulls and bears power values on indicator buffers. Usage: init() method with the following parameters is called in the init() function: int aperiod - Indicator period.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Library works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Libraries folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Bulls and Bears Power Calculation on Indicator Buffers
1. Storage: Place library files in the MQL/Libraries directory to ensure they are accessible to your projects.
2. Implementation: Include the library in your code using the #import directive, ensuring you match the exact function names and parameters.
3. Compilation: Ensure the library is present in the directory before you compile your main EA or script, as the compiler links them during this phase.
4. Management: Keep libraries organized in sub-folders if you manage many custom functions to maintain a clean project structure.
Frequently Asked Questions
Q: What is a library file used for? A: Libraries store reusable code modules, allowing you to centralize common logic used by multiple EAs or indicators.
Q: Is a library executable? A: No, libraries are non-executable files containing functions; they must be imported into an EA, indicator, or script to function.
Q: Can I update a library while the platform is running? A: You should compile your EA or script after updating a library to ensure the latest code changes are integrated.
What this tool does
The BullsBearsOnArray class is designed for the calculation of Bulls and Bears Power values on indicator buffers.
Typical Use Case
This Library excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Library works on MetaTrader 5. Place the file in the MQL5/Libraries folder and restart the terminal.
Description & Settings
Related: Object Emulator for MetaTrader 4 and 5 - another powerful library for MetaTrader 5 traders.
The BullsBearsOnArray class is designed for the calculation of Bulls and Bears Power values on indicator buffers.Also recommended: Array-Based Adaptive Moving Average (AMA) Calculation Class - similar library with strong performance on MetaTrader 5.
Usage:
init() method with the following parameters is called in the init() function:
int aperiod - Indicator period.
enum_ma_method amethod - Smoothing method.
solve() method with the following parameters is called in the calculate() function:
const int aratestotal - The rates_total variable from the OnCalculate() function parameters.
const int aprevcalc - The prev_calculated variable from the OnCalculate() function.
double adatahigh[] - The buffer with the high data for indicator calculation.
double adatalow[] - The buffer with the low data for indicator calculation.
double adataclose[] - The buffer with the close data for indicator calculation.
double & ama[] - Intermediate buffer for MA calculation.
double & abulls[] - Calculated Bulls Power value.
double & abears[] - Calculated Bears Power value.
Additional methods:
int barsrequired() - Returns the minimum number of bars required for indicator calculation.
string buname() - Returns the indicator line name for Bulls Power.
string bename() - Returns the indicator line name for Bears Power.
A sample indicator, test_BullsBearsOnArray.mq5, demonstrates the application of the BullsBearsOnArray class. The BullsBearsOnArray file must be placed in the MQL5\Include\Incmath folder of your terminal data folder. The Incmath folder must be created if it does not exist. The CMAOnArray class from the incMAOnArray file is required for proper operation.
It is crucial to assess the balance of Bulls and Bears power, as shifts in this balance can signal potential trend reversals. This task can be effectively addressed using the Bulls Power and Bears Power oscillators, developed by Alexander Elder and described in his book, 'Trading for a Living'. The original publication date was 2006, but this description is updated for 2026.
You may also like: init sync - excellent alternative for library users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_separate_window
#property indicator_buffers 6
#property indicator_plots 2
#property indicator_label1 "label1"
#property indicator_type1 draw_line
#property indicator_color1 clrdeepskyblue
#property indicator_style1 style_solid.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.