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Elder-Ray Index — MT5 Trading Guide

Elder-Ray Index combines Bulls Power and Bears Power with an EMA to measure the strength of buying and selling pressure behind price movements.

Daniel Harrington

Daniel Harrington

Senior Trading Analyst · MT5 Specialist

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Fact-checkedData-drivenUpdated March 4, 2026

Settings — Elder-Ray

Categoryoscillator
Default Period13
Best TimeframesH1, H4, D1
EUR/USDH4
▲ 4.89%Elder-Ray (13)
1.08171.11101.14041.1697Elder-Ray1.1355
EUR/USD H4 — Elder-Ray (13) • Simulated data for illustration purposes

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Daniel Harrington

About the Author

Daniel Harrington

Senior Trading Analyst

Daniel Harrington is a Senior Trading Analyst with a MScF (Master of Science in Finance) specializing in quantitative asset and risk management. With over 12 years of experience in forex and derivatives markets, he covers MT5 platform optimization, algorithmic trading strategies, and practical insights for retail traders.

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Risk Disclaimer

Trading financial instruments carries significant risk and may not be suitable for all investors. Past performance does not guarantee future results. This content is for educational purposes only and should not be considered investment advice. Always conduct your own research before trading.