Total Power Indicator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources

The total power metric is based on two standard metrics:Bears Power andBulls Power .

The indicator counts the number of bullish and bearish trend bars in a certain period of time and then determines the proportional relationship between shorts, longs and the total trend bars of the current bar (the total relationship is calculated as the difference between longs and shorts).

Thus, we get a continuous line of relative average bullish and bearish strength over a certain period, without the main drawback of the original indicator - lack of long-term perspective. The MetaTrader 4 version of the Total Power indicator was created by Daniel Fernandez ( Asirikuy.com ).

Input parameters:

There are two versions of this indicator.

There are a few different ways to use this indicator:

Attachment download

📎totalpowerindicator.mq5 (8.43 KB)

📎 totalpowerindicator_.mq5 (9.38 KB)

Source: MQL5 #528