Elder-rays Strategy

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Elder-rays Strategy


Usage of the Elder-rays Indicator


The Elder-rays indicator is composed of two oscillators and a trend following indicator. The Exponential Moving Average is used as a trend following indicator. The position should be opened in its direction. The oscillators reflect the bulls' power and the bears' power. They help to define the moment when the position should be opened.

In the strategy, it is time to open a sell position, if:
  • the Bears Power oscillator is increasing, but it is negative
  • the last Bulls Power oscillator peak is higher than the previous one
  • the Exponential Moving Average is increasing


It is time to open a sell position, if:
  • the Bulls Power oscillator is decreasing, but it is positive
  • the last Bulls Power oscillator hollow is lower than the previous one
  • the Exponential Moving Average is decreasing



*In order for this strategy to work properly, you must download and install the following indicators: http://www.actfx.com/Download50061.aspx


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Download File


Elder-rays Strategy.act Elder-rays Strategy.act (4.13 KB, 1,248 views)

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No Member Photo by Hoffman posted Wednesday, December 16, 2009
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This one is one of the best :-) thanks!


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