• Mon. Sep 13th, 2021

DadForex

All about Forex trading

Indicator ELR (Elder’s Rays): one of the Best Forex Indicators

The Elder’s Rays indicator shines through the market like an X-ray, giving the trader an opportunity to assess the strength of bulls and bears.

Elder's Rays ELR MT4 indicator

The indicator Elder’s Rays is one of the best Forex indicators and allows you to assess the strength of buyers and sellers in the market, as well as determine the change in trend.

The Elder’s Rays indicator is a combination of the exponential moving average EMA (13) and the standard Bulls Power and Bears Power indicators.

The indicator Elder’s Rays combines the best qualities of trend indicators and oscillators, which makes it a powerful tool for determining market entry points. The Elder’s Rays indicator can become the basis for trending Forex strategies.

Features of Elder’s Rays ELR MT4 indicator

  • Platform: Metatrader 4
  • Ability to change settings: Yes
  • Timeframe: any from 1 Minute to Daily
  • Currency pairs: any

In ELR.zip file you will find:

  • ELR.ex4

Download Elder’s Rays ELR MT4 indicator for free: