The unification of trend retracing indicators and oscillators features is called the technical indicator Elder-Rays. The xponential moving average (EMA, the most appropriate period is 13) is used as the tracing indicator; the oscillators show the power of bulls and bears. For constructing a graph, it is necessary to draw three diagrams: one for price charts and EMA, one for Bulls Power and another one for Bears Power Oscillators.

A technical indicator developed by Alexander Elderthat measures the amount of buying and selling pressure in the market. This indicator consists of two separate indicators known as "bull power" and "bear power".

A technical indicator developed by Alexander Elder that measures the amount of buying and selling pressure in the market. This indicator consists of two separate indicators known as "bull power" and "bear power". These figures allow a trader to determine the position of the price relative to a certain exponential moving average (EMA).