Bears Power (SDK Trading)
The Bears Power oscillator was used to measure the difference between a 13-day(or 14-day, adjustable parameter) Exponential Moving Average (EMA) and the lowest price, plotted as a line or a histogram. If the Bears Power indicator is below zero, it means sellers tend to drive price below the EMA.
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Bears Power (SDK Trading)
registerIndicator("bears", "Bears Power(v1.0)", function (context) {
var dataInput = getDataInput(context, 0)
var dataInputLow = getDataInput(context, 1)
var dataOutput = getDataOutput(context, "bears")
var dataOutputEma = getDataOutput(context, "ema")
var period = getIndiParameter(context, "period")
var calculatedLength = getCalculatedLength(context)
var ptr = calculatedLength
if (ptr > 0) {
ptr--
} else {
ptr = period - 1
for (var i = 0; i < period - 1; i++) {
dataOutput[i] = 0
}
}
ema(dataInput, dataOutputEma, calculatedLength, period)
while (ptr < dataInput.length) {
dataOutput[ptr] = dataInputLow[ptr] - dataOutputEma[ptr]
ptr++
}
},[{
name: "period",
value: 14,
required: true,
type: PARAMETER_TYPE.INTEGER,
range: [1, 100]
}],
[{
name: DATA_NAME.CLOSE,
index: 0
},{
name: DATA_NAME.LOW,
index: 1
}],
[{
name: "bears",
visible: true,
renderType: RENDER_TYPE.HISTOGRAM,
color: "steelblue"
},{
name: "ema",
visible: false
}],
WHERE_TO_RENDER.SEPARATE_WINDOW)