Balance of Power

The Balance of Power (BOP) indicator measures a price trend by evaluating the strength of buy and sell signals, determining how strongly the price moves extreme high and low levels. The BOP oscillates beween -1 and 1, with positive values indicating stronger buying pressure and negative values indicating strong selling pressure. When the indicator gets closer to zero, it indicates that the strength of the buyers and sellers is equalizing.

Configuration Options

  • Period: Number of bars to use in the calculations.
  • Moving Average Type: Type of moving average to use in the calculations:
    • Simple
    • Exponential
    • Time Series
    • Triangular
    • Variable
    • VIDYA
    • Weighted
    • Welles Winder
    • Hull
    • Double Exponential
    • Triple Exponential
  • Color Selectors: Colors to use for graph elements.
  • Display Axis Label: Whether to display the most recent value on the Y axis.


\[BOP = SMA\;of \left [ \frac{Close - Open}{High - Low} \right ] \]