Elder Ray (Bull/Bear Power)
MomentumOwn panel belowHow far the bar's high and low reached away from a moving average, measured separately.
What it looks like
Drawn by running the real calculation over one sample series. Open a symbol and it is recalculated on that symbol's bars.
How to read it
High minus the average is bull power; low minus the average is bear power. Bull power above zero means buyers could push the price above the average that day.
Where it misleads
It depends heavily on the average's length — change the period and the story changes.
Default settings
You can change these on the chart. These are the values it starts with.
In SQMATE
One tap to add
Open a symbol, tap the name in the indicator list and it is drawn straight away. You can stack several copies of the same indicator with different settings.
Recalculated per timeframe
Switch between minute, hourly, daily, weekly or monthly bars and it is recalculated on that timeframe. The maths runs over every bar loaded, so zooming never moves the line.
Use it as a search condition
Some indicators can also be used as an axis when searching for symbols — for example, keeping only symbols above a given reading, scanned every night.
Related indicators
- Bull Bear PowerBull and bear power added into a single line.
- QstickWhether closes finished above opens more often than not over the recent window.
- Rank Correlation Index (RCI)How well the order of dates matches the order of prices, from −100 to +100.
- Schaff Trend Cycle (STC)MACD run through a stochastic twice and rescaled to 0–100.
- RSIUpward force against downward force over the recent window, scaled 0–100.
- StochasticWhere today's close sits between the recent high and low, scaled 0–100.
Every indicator is an observation computed from past bars. It does not tell you future prices and it is not investment advice.