Bears (Bears Power)
Classic MT4 oscillator · Low − EMA(13) · Indicator
About Bears (Bears Power)
This file is the standard "Bears Power" indicator that ships with MetaTrader 4 — the source carries the original MetaQuotes copyright (2005-2014). It is a histogram oscillator from Alexander Elder's trading system: Bears Power = Low − EMA(13) of Close, drawn in a separate window.
Honest note: despite sitting in the EA list, this is an indicator, not an Expert Advisor — it does not open trades. It measures how far sellers push the low below the 13-period exponential average; values below zero show sellers in control, and a rising histogram while price makes new lows is Elder's classic bullish-divergence signal. The only input is the period (default 13).
- Platform: MetaTrader 4 (standard built-in indicator)
- Type: Oscillator (histogram, separate window) — NOT an auto-trading EA
- Formula: Low − EMA(Close, 13), per the source code
- Inputs: InpBearsPeriod (default 13)
- Price: Free (ships with MT4)
- Source: mql5.com · iBearsPower documentation
Key Features
✓ Genuine standard MT4 indicator with original MetaQuotes source — safe, transparent, well documented.
✓ Classic Elder oscillator: good for spotting seller exhaustion and bullish divergences.
⚠ It is an indicator only — no auto-trading; use it as confirmation alongside a strategy.
⚠ Single-period histogram with no smoothing of its own — noisy on low timeframes.