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- 23 Eki 2020
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The balance of power (BOP) indicator, presented by Igor Livshin in his article in this issue, can be easily recreated in MetaStock 6.52 or higher. To create the BOP in MetaStock, select the "Indicator Builder" from the Tools menu. Then click "New" and enter the following formula: |
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Balance Of Power - BOP THL:=If(H-L=0,.00001,H-L); {Reward Based on the Open} BuRBoO:=(H-O)/(THL); BeRBoO:=(O-L)/(THL); {Reward Based on the Close} BuRBoC:=(C-L)/(THL); BeRBoC:=(H-C)/(THL); {Reward Based on the Open-Close} BuRBoOC:=If(C>O,(C-O)/(THL),0); BeRBoOC:=If(C>O,0,(O-C)/(THL)); BOP:=(BuRBoO+BuRBoC+BuRBoOC)/3 - (BeRBoO+BeRBoC+BeRBoOC)/3; BOP |
To plot the moving average, add the following line to the formula: Mov(BOP,14,S) Note: You can replace "14" with your desired number of periods. --Cheryl C. Abram, Equis International, Inc. Equis
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