The Bullish Elder Ray is a technical analysis indicator used in financial markets to assess the strength of a bullish trend. It consists of two main components: the Bullish Elder Ray Index and the Bullish Elder Ray Histogram. The index measures the difference between the closing price of an asset and its exponential moving average, indicating whether buyers are in control. Traders use the Bullish Elder Ray to identify potential buying opportunities. A positive value suggests that buyers are dominating the market, while a rising histogram indicates increasing bullish momentum. This tool is often employed alongside other indicators for more informed trading decisions.