TREND, MOVING AVERAGES & STRUCTURE
Balance of power
Who won the candle — buyers or sellers.
spec id: boplength (default 14)
What does Balance of power measure?
Who won the candle — buyers or sellers. It reads +1 when a candle closed right at its high and −1 when it closed right at its low.
How is Balance of power calculated?
Take the close minus the open and divide by the candle's full high-to-low range. If you set a length above 1, those values are then averaged over the last 14 candles.
Written by reading the engine’s real computation, not a textbook — where the two differ, the page describes what actually runs.
How do I use Balance of power in a bot?
In the builder, add an indicator of type bop (parameters: length, default 14). Its value becomes an operand you can compare in any entry or exit rule. The engine grades the whole rule honestly: real fills, no look-ahead, half the history held back.
Related indicators
- Camarilla pivotsA set of intraday support and resistance lines built from yesterday's candle.
- Choppiness indexA 0-100 meter for whether the market is trending or just chopping about.
- DEMAA trend line that turns faster than a normal exponential average, with less of the lag that makes moving averages arrive late.
- DeMark pivotsA support and resistance pair built from yesterday's candle, with a twist: the level shifts depending on whether yesterday closed up or down.
Or browse all 158 indicators in the full library.