Balance Of Power

The balance of power (BOP) indicator measures the strength of the bulls vs. the bears by assessing the ability of each to push price to an extreme level. BOP was developed not to be a range-bound indicator, so it is as sensitive at extreme points as it is at other levels.

Every day, bulls and bears compete with each other in the marketplace. The idea behind the BOP calculation is to assign a score for both bulls and bears based on their daily performance related to price movement

Syntax:

Public Function BalanceOfPower(ByVal HLOCV()() As Double, ByVal SmoothMethod As axltaMovingAverageType, ByVal Lag As Long) As Double

Parameters:

  • ByVal HLOCV()() As Double
  • ByVal SmoothMethod As axltaMovingAverageType
  • ByVal Lag As Long

Back to list

 

Example:

 

    Dim TA4Net As New TA4Net.CTAFunctions("YOUR-REGISTRATION-CODE")

    Dim Result() As Double

    Dim HLOCV(,) As Double

 

    ' loading values to array

    HLOCV = GetHLOCVValues()

    ' calculating Technical Analysis function

    Result = TA4Net.BalanceOfPower(HLOCV, TA4Net.axltaMovingAverageType.axltaMovExponential, 14)

 

TA4.NET® Franz AG 2004©
Web site: http://www.ta4.net
e-mail: support@ta4.net

Browser Based Help. Published by chm2web software.