Popular indicator from Alexander Elder.
Elder Ray Buy signals
- Moving average rises and Bullish Force indicator is below zero. The best time to buy is when the Bearish Force first falls below zero and then immediately rises.
- If new price highs are confirmed by new Bullish Force indicator highs, then it is a good confirmation of the bullish trend.
- Bearish convergence is another strong signal.
Elder Ray Sell signals
- Moving average moves downward and Bullish Force is above zero.
- Bearish trend is confirmed if the price lows and Bearish Force indicator lows move downward in parallel.
- Bullish divergence is another strong signal.
Enjoy the trading !