Balance of Power Strategy

kuriosly Updated   
A simple variation on the balance of power idea, using a weighted moving average and a basic lookback to attempt to predict the motion in the next tick.

As far as a trading pattern goes, it's performance is rather conservative, and it is rather noisy as it doesn't do a good job of preventing quick, meaningless trades.
Release Notes:
Added some weighting in momentum
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.


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