Indicator - ER Elder Ray Avg
Indicator - ER Bull Power
Indicator - ER Bear Power
Category: Indicator > Averages
This Indicator plots the Elder Ray (EMA 13, Bull Power, BearPower) as described by Dr. Alexander Elder in "Trading For a Living."
The most popular method of interpreting a moving average is to compare the relationship between a moving average of the security's price with the security's price itself (or between several moving averages).
Price - the data series to average
Length - the parameter tells how many bars to average
Easy Language Code:
INPUTS: PRICE(CLOSE), LENGTH(13);
XAVG = XAVERAGE(CLOSE, LENGTH);