Bear Power is used to calculate the potential for the price to fall under the moving average. And Bull Power is used for calculating the potential for the price to grow over the moving average.
Go long if Bear Power is below zero and there is a bullish divergence.
Go short if Bull Power is above zero and there is a bearish divergence.
Further trading rules can be found in Trading For A Living by Dr Alexander Elder.
Investor/RT Tour - Bear Power (BEARP)
An exponential moving average (EMA, 13-period) and two other technical indicators, called Bull Power and Bear Power are used in the ...
It has two components - "Bull Power" and "Bear Power". Bull Power subtracts an EMA of close from high of the candle. Bear Power subtracts an EMA of close from low of the candle. Investopedia has an article on this indicator.
Elliott Oscillator ...
Conversely, the Death Cross restores bear power when the 50-day falls back beneath the 200-day. The 200-day average becomes major resistance after the 50-day average drops below it, and major support after breaking above it.
Based on the relative strength of market bull and bear power, Elder-rays are used to estimate the power struggle between these two powers.
Bull Power = Daily High - n-period EMA
Bear Power = Daily Low - n-period EMA
Elliott Wave Theory ...
The Elder Ray index actually consists of two indicators:
"Bull Power" (Daily High - n period moving average) and
"Bear Power" (Daily Low - n period moving average).
 See also: Indicators, Indicator, Bear, Analysis, Average
  
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