You will come across many animals while learning more about Olymp Trade. This time we have a bear, the Bears Power, to be precise. It is an indicator that is used to predict the direction in which the price goes as well as the reversal of the trend. Read this article to know how to use it on the Olymp Trade platform.
Setting up the Bears power at Olymp Trade
Click on the indicators feature icon on the Olymp Trade interface and the window with all the indicators will pop up. Scroll down to the oscillators and chose the Bears power.
The default period is 13 and the color is purple. You can change those parameters, as well as the thickness of the line.
In the middle, there is a horizontal line of 0 value. The important places are those where the purple line intersects the 0 lines.
Using the Bears power on the Olymp Trade platform
The Bears power is used to predict the trend reversal, this is true. But what I did not tell you before, is that it is mainly used to determine the selling power. In other words, the upcoming downtrend is simple to catch with the Bear’s power.
This indicator works best for the trades lasting a long time. So when the purple line crosses the 0 lines and continues downwards, you can open a sell position for a longer time.
I recommend trying this new indicator on the practice account first. It is free of charge and you can trade there as long as you wish. Bear in mind though, that you can only make real money on the live account. So once you have become confident with the Bears power indicator, switch to the real account.
Wish you enjoyable trading!
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