How to use the Bears Power indicator at Olymp Trade


Bears power indicatorYou 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

How to attach Bears power indicator on Olymp Trade
How to attach the Bears power indicator 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.

Bears power indicator will appear at the bottom of the chart
The Bears power indicator will appear at the bottom of the chart

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.

When Bears crosses below zero line market is going down
When Bears crosses below the zero lines, the market is going down

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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Bart Bregman

Full time day trading, and helping out with Olymp Trade wiki in my spare time to create an awesome platform for beginners. I'm a digital nomad that travels the world while working from everywhere!

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