SatNam

Smoothed Balance of Power

bop
340 4 36
bop
Smoothed BOP to try and find dark pool activity. Only works in charts with working volume!

Credits go to LazyBear for some coding on the plotting and Igor Livshin for the formula.
Remove from Favorite Scripts Add to Favorite Scripts
// author : SatNam
// credits to LazyBear and Igor Livshin

study(title="SN-BOP")
length=input(14)
lengthSMA=input(50)
PlotEMA=input(true, "Plot SMA?", type=bool)
THL = (high-low) ? .00001 : (high-low)

BuRBoO = (high - open)/(THL)
BeRBoO = (open - low)/(THL)
 
BuRBoC =(close - low)/(THL)
BeRBoC =(high - close)/(THL)
 
BuRBoOC = close > 0 ? (close-open)/(THL) : 0
BeRBoOC = close > 0 ? 0 : (open -close)/(THL)

BOP = ((BuRBoO+BuRBoC+BuRBoOC)/3) - ((BeRBoO+BeRBoC+BeRBoOC)/3)
vwBOP = vwma(BOP, length)
barcolor = vwBOP >= 40000 ? green : vwBOP <= -40000 ? red: gray
hline(0)
plot(vwBOP, style=columns, color = barcolor)
plot(PlotEMA?ema(BOP, lengthSMA):na, color=navy, linewidth=2)
THANKS FOR CHART AND DARK POOL ,
Reply
SatNam AMBRISH
No problem. I'm making an updated version that can be used on any chart and only needs volume information from another chart. This way you could, for instance, get hourly volume information on a FXCM chart using a different chart for volume information.
Reply
Check this link for the updated version:
SN Smoothed Balance of Power v2
Reply
SatNam SatNam
*click on the chart
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out