📄 elder ray - bull bear.afl
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//------------------------------------------------------------------------------
//
// Formula Name: Elder Ray - Bull Bear
// Author/Uploader: Noor_Doodie
// E-mail: muhd.noor.sn@gmail.com
// Date/Time Added: 2006-02-23 12:10:44
// Origin:
// Keywords:
// Level: basic
// Flags: indicator
// Formula URL: http://www.amibroker.com/library/formula.php?id=595
// Details URL: http://www.amibroker.com/library/detail.php?id=595
//
//------------------------------------------------------------------------------
//
// I have constructed it in color and joined the two lines together instead.
// Violet = Bull, Orange = Bear.
//
// If im not wrong, Dr. Elder's teaching goes like this:
//
// In uptrends, use Elder Ray-Bull(Violet)
//
// In Downtrends, use Elder Ray-Bear(Orange)
//
// Pls correct me if im wrong.
//
//------------------------------------------------------------------------------
_SECTION_BEGIN("Elder Ray");
ERayBull= High - EMA(Close,13);
ERayBear= Low - EMA(Close, 13);
Plot(ERayBull,"Elder Bull", colorViolet, styleHistogram|styleThick);
Plot(ERayBear,"Elder Bear", colorOrange, styleHistogram|styleThick);
_SECTION_END();
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