This System was created from the Book "How I Tripled My Money In The
Market" by Ulf Jensen, Page 183. This is reverse type of strategies.
The strategy buys at market, if close price is higher than the previous close
during 2 days and the meaning of 9-days Slow Oscillator is lower than 50.
The strategy sells at market, if close price is lower than the previous close price
during 2 days and the meaning of 9-days Fast Oscillator is higher than 50.
Developed by Dr Alexander Elder, the Elder-ray indicator measures buying
and selling pressure in the market. The Elder-ray is often used as part
of the Triple Screen trading system but may also be used on its own.
Dr Elder uses a 13-day ( ) to indicate the
market consensus of value. Bull Power measures the ability of buyers to
drive prices above the consensus of value. Bear Power reflects the ability
of sellers to drive prices below the average consensus of value.
Bull Power is calculated by subtracting the 13-day from the day's High.
Bear power subtracts the 13-day from the day's Low.
You can use in the xPrice any series: Open, High, Low, Close, HL2 , HLC3, OHLC4 and ect...
- For purpose educate only
- This script to change bars colors.
It changed the colour of the chart, but no enter/exit or buy/sell signal generated. Thought anyone? Cheers!!