Elder Rays are considered as one of the most widely used indicators of technical analysis, allowing to define which trend (bull or bear) is more powerful at that moment in time, whilst also helping to find market entry and exit points. Elder rays bring such instruments as oscillators (Bulls Power and Bears Power) together, allowing to find the times when to make trades and the Exponentially Moving Average (EMA) which demonstrates the directional movement of the trend. This indicator can be used independently or with a combination of other instruments of technical analysis.
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