Stock Portfolio Organizer
The ultimate porfolio management solution.
WiseTrader Toolbox
#1 Selling Amibroker Plugin featuring:
Balance of Power for Amibroker (AFL)
The balance of power (BOP) indicator measures the strength of the bulls vs. bears by assessing the ability of each to push price to an extreme level.
Similar Indicators / Formulas
Indicator / Formula
_SECTION_BEGIN("test 3"); // Balance of Power // Example code can be found at: // http://www.traders.com/Documentation/FEEDbk_docs/Archive/082001/TradersTips/TradersTips.html //----- This prevents a bad data point from generating a divide by zero. THL = IIf(H != L, H - L, 0.01); //----- Reward based on Open BullOpen = (H - O)/THL; BearOpen = (O - L)/THL; //----- Reward based on Close BullClose = (C - L)/THL; BearClose = (H - C)/THL; //----- Reward based 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();
0 comments
Leave Comment
Please login here to leave a comment.
Back