H Bulls n Bears Indicator

H Bulls n Bears Indicator

The H Bulls n Bears Indicator for MT4 is the best Forex indicator that identifies the presence of bullish and bearish dominance in the market.

The H Bulls n Bears indicator for MT4 is a technical analysis tool that evaluates the strength of bulls (buyers) and bears (sellers) in the market. It assists Forex traders in identifying the trend direction of the market and potential reversal zones of the price.

The indicator determines the overall strength of the bulls and bears by evaluating the difference between the highest/lowest price and the Exponential Moving Average (EMA). The bulls’ and bears’ strengths are displayed with histogram bars for easy visualization.

The histogram bars above the zero line indicate the bull power in the market, which suggests a potential bullish move. Conversely, the bars below the zero line indicate more bear power, suggesting a potential bearish move.

How to trade With the H Bulls n Bears Indicator for MT4

The above image shows the bulls and bears’ power analysis on the EUR/USD currency pair by the H Bulls n Bears indicator.

The indicator for MT4 can be used by scalpers, day/intraday, and swing Forex traders to identify buy or sell setups. However, it is recommended to be used in sync with the trend direction of the market. Buying or selling setups that align with the trend’s direction mitigate false signals caused by market fluctuations.

Therefore, in an uptrend, for instance, wait for the histogram bars to cross above the zero line (which suggests bullish power) before looking for a buy entry. Similarly, look for a selling opportunity in a downtrend after the histogram bars cross below the zero line.

Conclusion
The H Bulls n Bears indicator for MT4 can be a valuable technical trading tool to identify changes in bullish and bearish market momentum. Finally, it is free to download.