Total Power is a power indicator. It displays three lines: Bulls power, bears power, and total power.

It has two adjustable parameters:

  • Power period - power calculation period
  • EMA period - moving average calculation period

Calculations:

BullPower = BullCount * 100 / Power period
BearPower = BearCount * 100 / Power period
TotalPower= Abs(BearCount - BullCount) * 100 / Power period

where:

  • If HighPW > MA
    BullCount = BullCount+1

  • If LowPW < MA
    BearCount = BearCount+1

HighPW, LowPW - High and Low prices within the range of Power period

MA - EMA(Close, Period MA)