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WiseTrader Toolbox
#1 Selling Amibroker Plugin featuring:
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Balance of Power for Amibroker (AFL)
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_SECTION_BEGIN("BOP ");
// Balance of Power
// Example code can be found at:
// http://www.traders.com/********ation...adersTips.html
//----- This prevents a bad data point from generating a divide by zero.
THL = IIf(H != L, H - L, 0.01);
//----- Reward ****d on Open
BullOpen = (H - O)/THL;
BearOpen = (O - L)/THL;
//----- Reward ****d on Close
BullClose = (C - L)/THL;
BearClose = (H - C)/THL;
//----- Reward ****d on Open - Close
BullOC =IIf(C > O, (C - O)/THL, 0);
BearOC =IIf(O > C, (O - C)/THL, 0);
BullReward = (BullOpen + BullClose + BullOC)/3;
BearReward = (BearOpen + BearClose + BearOC)/3;
BOP = BullReward - BearReward;
Period1 = 34;
SmoothBOP = EMA(BOP, Period1);
Period2 = 34;
SmootherBOP = TEMA(SmoothBOP, Period2);
//Plot(BOP, "BOP", colorBlack, 1);
Plot(SmoothBOP, "BOP " + Period1, colorLightBlue, 1);
Plot(SmootherBOP, "", colorRed);
Plot(Ref(SmootherBOP, -2), "", colorBlue);
Plot(0.1, "", colorGreen);
Plot(0, "", colorBlack);
Plot(-0.1, "", colorGreen);
_SECTION_END();