SatNam

Smoothed Balance of Power

bop
301 4 32
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.
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// 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)
AMBRISH
a year ago
THANKS FOR CHART AND DARK POOL ,
Reply
SatNam AMBRISH
a year ago
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.
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SatNam
a year ago
Check this link for the updated version:
SN Smoothed Balance of Power v2
Reply
SatNam SatNam
a year ago
*click on the chart
Reply
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