FxAST Bull Bear Power 62 [ALLDYN]

13 dic 2021

I thought I would create something based on what I use in my trading style around Volume Price Analysis and Fibonacci trading.

This tool combines the work of Dr. Alexander Elder (The Elder Ray Index) and the original work done by Rob Booker (The Power of 62).

Basics of the Elder Ray Index: The Elder Ray Index uses indicators to measure buying and selling pressure within a given instrument. The default is what Dr. Alexander used in his trading the 26-period EMA. Technical traders use this information to help determine the direction of a trend. If there is strong bullish pressure, then traders would consider long positions. If there is strong bearish pressure, then traders would consider short positions.

This Tool: My tool gives the bullish and bearish volume as a histogram. The stronger the movement, the longer the histogram bars will be and vice versa as volume pressure weakens. This information allows us to spot divergence with what is happening between the tool and the price action chart. Spotting divergence allows us to wait until we see convergence (things matching the tool and the price action chart) and give us the added confluence we need to consider entering a trade.

Basics of Power Of 62: This system uses 3 Fibonacci EMAs (5-13-62). The 5 is the closest to price action, the 13 is based on the work that Dr. Alexander did measuring bull and bear pressure, and the 62 is based on the .618 or phi of the Fibonacci sequence. Technical traders can use these to gauge trend strength and momentum. For example, 5-13 trending towards the 62 indicates that the market is bullish with a strong bullish confirmation of the 13 crossing above the 62. Conversely, the opposite is valid for a bearish movement and strong confirmation.

This Tool: My tool shows when the 5 crosses the 13 by a visual blue dot. All this indicates is that associated price action is above/below the 13 EMA which if you remember the basics of the Elder Ray index if associated price action is above the 13 indicates the Bulls are in control and if associated price action is below the 13 indicates the Bears are in control. Where these are in relationship to the 62 (above/below) is a strong confirmation of the trend itself. Consider the slope of the lines and the clock analogy. If the lines are between the 1-2 then this is a strong bullish trend. If the lines are between the 4-5 then this is a strong bearish trend. If the lines are flat/horizontal, this indicates price equilibrium and indecision in the market.

Putting it All Together: Combining these concepts allows technical traders to trade with the trend, allowing both systems to give symbiotic confirmations for buying and selling ideas, for example. If we see that the histogram bars are sloping in one direction (above/below 0 line) and we get a cross of the 5-13 trending towards the 62, we can then wait until both cross above/below the 62 AND the histogram is showing bullish/bearish histogram bars above/below the 0 line. Everything above 0 line = Strong Bullish Confirmation, and everything below 0 line = Strong Bearish Confirmation.

I like to use this with the MACD (Chris Moody's) or the RSI/Stochastic/ADX. On the chart above you can see that Tradingviews default VOT (Volume Over Time) indicator is applied to the chart with the MA option checked.

5 = green line
13 = red line
62 = purple line

13 dic 2021

Note di rilascio

Cleaned up and updated Input and Style options to make the customer side interface cleaner.

ieri

Note di rilascio

**Complete publication package** for **Bull Power Bear Power AI Upgrade** [ALLDYN]:

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### 📝 Description of Upgrades:

**Bull Power Bear Power - AI Upgrade**
*by alldyn\_pip\_king*

This is an enhanced and modernized version of the classic Elder-Ray index and Rob Booker’s “Power of 62” method, engineered for today’s markets.

🔧 **What’s Included:**

* ✅ Refined Bull/Bear Histogram Logic
* ✅ Rob Booker’s 5/13/62 EMA “Power of Trend” structure
* ✅ Confluence Table with:

* Bias Summary (Bullish / Bearish / Neutral)
* Dynamic Delta% (5/13)
* Trend Momentum% (13/62)
* AI Signal Projection (↑ Acceleration, ↓ Weakening, ↔ Caution)
* ✅ Smoothing toggle: *Great for swing traders*
* ✅ Fully automated alerts for trend, confluence, and EMA shifts
* ✅ Live visual feedback every bar

🧠 **Why AI Upgrade?**
While not a neural net, this script mimics AI decision logic using:

* Multi-frame weighted deltas
* Signal filtering & confirmation logic
* Probabilistic output formatting in the table

📈 **How to Use:**

* Strong Bias = all EMAs stacked in one direction
* Look for crosses (5/13 & 13/62) with confirming histogram direction
* Use smoothing ON for swing, OFF for scalping (in Inputs)
* Table guides momentum & delta strength—ideal for trend conviction
* Use alerts to track real-time changes

💡 *Inspired by Elder, Booker, and powered by Pine v6 logic with AI-confluence structure.*
For chart or script support, tag **@alldynpipking**

ieri

Note di rilascio

🔷 Bull Power Bear Power (Power of 62) – AI Upgrade v1.6
This enhanced version of the classic Elder-Ray/Rob Booker BBP system has been modernized with AI-style forecasting, dynamic signal analysis, and a full confluence dashboard for smarter, faster decisions.

🚀 What's New in v1.6
✅ AI Forecast Row: Projects future bias using slope & momentum logic

✅ Confluence Table: Live BBP strength, signal deltas, and model suggestions

✅ EMA 5/13/62 Power Framework: Trend confirmation with visual crosses

✅ Optional Histogram Smoothing: Ideal for swing traders

✅ Smart Alerts: Bias shifts, EMA crosses, and forecast shifts trigger automatically

✅ Tooltips + Intuitive Design: Tailored for all experience levels

📈 Use Case Suggestions
Intraday Scalping: Disable smoothing, watch 5/13 crosses

Swing Trading: Enable smoothing, follow EMA62 trend strength

Confluence Traders: Use BBP Delta + Momentum + Forecast together

AI Enthusiasts: Watch "AI Forecast" to anticipate bias acceleration or breakdowns

📚 What is the "AI Upgrade"?
No black-box model here. “AI Upgrade” means this script now applies structured logic (signal deltas + momentum ratios) to simulate a real-time forecast engine — much like what you’d expect in a simple supervised ML model trained on directional momentum.