Add Feature: Bull-Bear Power (BBP) algorithm

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Enhancement idea

• Add Feature: Bull-Bear Power (BBP) algorithm.
• Add to Themes, see here: Add Feature: Themes module to core algorithm #194
• Add to data window.
• Update Doc's.
• Connect to Alerts Modules and add custom alerts, see here: Update Core Algorithm: Add Alerts Module #70
• Connect to warning signals module, see here: Update Core Algorithm: Add Warning Signals Module #267
• Connect to Trading Signals module, see here: Update Core Algorithm: Add Trading Signals Module #269
• Add to Themes, see here: Add Feature: Themes module to core algorithm #194
• Add some basic tests to the Tests section, see here: https://github.com/chartingshow/documentation/tree/master/trading/tests/bull-and-bear-power

Description

The Bull Bear Power (BBP) algorithm, otherwise known as the Elder-Ray Index, estimates the relationship between the strength of bulls (buyers) and bears (sellers) on an instrument. When the algorithm's value is nonzero, it supposedly suggests that either bulls or bears have more power in the market. The greater the distance is from zero, the greater the apparent dominance of bulls or bears. Positive values indicate higher bull power and negative values indicate higher bear power.

Links

n/a

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Four Modules (to code):

• Bull Power
• Bear Power
• Bull-Bear Power (Histogram)
• Bull-Bear Trend (Net - Trendline)

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Warning Signals:

Crossing +2 or -2 (out of sideways range).

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Tests complete: Coding can start now!