Balance of power indicator

• 10/11/2017 at 11:53 AM #49027
  Talero125

  Hello! I would like to test the indicator Balance of power! The Balance of Power indicator measures the market strength of buyers against sellers by assessing the ability of each side to drive prices to an extreme level. The calculation is: Balance of Power = (Close price – Open price) / (High price – Low price)

  I found this code in internet but it doesn´t work in Prorealtime so I need your help please! Thank you very much

  //@version=3
  study(“True Balance of power”)
  per=input(30, title=”periods for Emoline”, type=integer, step=1, minval=4)
  trhi = max(high, close[1]) //true high
  trlo = min(low, close[1]) //true low
  trop = close[1] //true open
  bop = 100*(close-trop)/(trhi-trlo) //True Balance of Power as percent
  lin= 1.5*linreg(bop, per, 0) //linear regression as emoline
  bgcolor(lin0?green:orange, style=columns) //plot BOP as columns
  plot(lin, title=”Emoline”, color=rising(lin,2)?blue :black, linewidth=3) //plot emoline as line
  hline(0, linestyle=line) //zero level

  

  Talero125

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  10/11/2017 at 12:14 PM #49029
  JC_Bywan

  Hi, welcome to PRC forums, I’m moving your post from Spanish forum “Soporte ProBuilder” to English forum “ProBuilder support”, as the custom on PRC forums is to use the language of the forum we post in.

  

  JC_Bywan

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  10/11/2017 at 2:08 PM #49040
  Nicolas

  I translated the indicator into ProBuilder version, you can find and download it here now: Balance of Power

  

  Nicolas

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  10/12/2017 at 11:31 AM #49114
  bolsatrilera

  Hi, Nicolas,your version is the True Balance of Power,I have this version:

  REM TRUE BALANCE OF POWER // código original de eykpunter para la plataforma Tradingview //reforma del script de LazyBear //@version=3 //adaptado para Prorealtime por bolsatrilera per=30 //title="periods for Emoline", type=integer, step=1, minval=4) hihi = max(high, close[1]) lolo = min(low, close[1]) opop = close[1] bop = 100*(close-opop)/(hihi-lolo) //part of range lin= 1.5*LinearRegression[per](bop) if lin < 0 then backgroundcolor (252,213,208) endif if bop > 0 then r=154 g=205 b=50 else r=255 g=165 b=0 endif return bop coloured (r,g,b)style (histogram)as "True Bop",lin style(line,2)as "Emoline", 0 as "0"

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  REM TRUE BALANCE OF POWER // código original de eykpunter para la plataforma Tradingview //reforma del script de LazyBear //@version=3 //adaptado para Prorealtime por bolsatrilera   per=30 //title="periods for Emoline", type=integer, step=1, minval=4) hihi = max(high, close[1]) lolo = min(low, close[1]) opop = close[1] bop = 100*(close-opop)/(hihi-lolo) //part of range lin= 1.5*LinearRegression[per](bop) if lin < 0 then backgroundcolor (252,213,208) endif if bop > 0 then r=154 g=205 b=50 else r=255 g=165 b=0 endif   return  bop coloured (r,g,b)style (histogram)as "True Bop",lin style(line,2)as "Emoline", 0 as "0"

   

  

  bolsatrilera

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  10/12/2017 at 11:35 AM #49116
  bolsatrilera

  The Balance of Power by Lazy Bear is this:

  REM BALANCE OF POWER // @author LazyBear //código original para la plataforma Tradingview // Balance Of Power - BOP //adaptación para Prorealtime por bolsatrilera length=14 BOP=(close - open) / (high - low) if BOP >0 then if BOP > BOP[1] then r = 154 g = 205 b = 50 else r=255 g=165 b=0 endif elsif BOP >BOP[1] then r=255 g=165 b=0 else r=255 g=0 b=0 endif PlotEma=Average[length](BOP) return BOP coloured (r,g,b)style(histogram)as "Bop",PlotEMA coloured (0,0,255)as "EMA",0 as "0"

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  REM BALANCE OF POWER // @author LazyBear //código original para la plataforma Tradingview // Balance Of Power - BOP //adaptación para Prorealtime por bolsatrilera   length=14 BOP=(close - open) / (high - low)   if BOP >0 then if BOP > BOP[1] then r = 154 g = 205 b = 50 else r=255 g=165 b=0 endif elsif BOP >BOP[1] then r=255 g=165 b=0 else r=255 g=0 b=0 endif   PlotEma=Average[length](BOP)   return BOP coloured (r,g,b)style(histogram)as "Bop",PlotEMA coloured (0,0,255)as "EMA",0 as "0"

   

  

  bolsatrilera

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