Created by Alexander Elder, the Elder-ray Index, also known as Bull and Bear Power, is an oscillator that depicts buying and selling pressure. It compares current high/low prices against an Exponential Moving Average. [Discuss] 💬
// usage IEnumerable<ElderRayResult> results = quotes.GetElderRay(lookbackPeriods);
int - Number of periods (
N) for the underlying EMA evaluation. Must be greater than 0. Default is 13.
Historical quotes requirements
You must have at least
N+100 periods of
quotes, whichever is more, to cover the convergence periods. Since this uses a smoothing technique, we recommend you use at least
N+250 data points prior to the intended usage date for better precision.
quotes is a collection of generic
TQuote historical price quotes. It should have a consistent frequency (day, hour, minute, etc). See the Guide for more information.
- This method returns a time series of all available indicator values for the
- It always returns the same number of elements as there are in the historical quotes.
- It does not return a single incremental indicator value.
- The first
N-1periods will have
nullindicator values since there’s not enough data to calculate.
⚞ Convergence warning: The first
N+100periods will have decreasing magnitude, convergence-related precision errors that can be as high as ~5% deviation in indicator values for earlier periods.
DateTime - Date from evaluated
double - Exponential moving average
double - Bull Power
double - Bear Power
See Utilities and helpers for more information.
Results can be further processed on
(BullPower+BearPower) with additional chain-enabled indicators.
// example var results = quotes .GetElderRay(..) .GetEma(..);
This indicator must be generated from
quotes and cannot be generated from results of another chain-enabled indicator or method.