Re: [amibroker] Question on the BOP indicator, AmiBroker Email List Archive

Mike,

I made a little mistake in explaining the green-yellow-red gradient.

Any score >30 is green, 30 to -30 is yellow and red is <-30.

So when a yellow goes below -30, it gets colored red. I thought I had seen red above the 0 bar but not so when I looked at charts -- didn't remember it accurately. Did get the green correct.

A stock's BOP can go directly from a red to a green on a small candle day because of the large lot orders. It has NOTHING to do with price as a result of the large lot buying -- just the large lots.

You can have a green hammer, a green doji and a red hammer all in sequence with price increasing anmd tghe BOP staying red during the whole time.

I hope the shots you saw had the price in BOP as well. That is the easiest way to see the large lot buying/selling and the effect on the price.

You can have green BOP with price falling and red BOP with price increasing.

Let me know if you have additional questions.

Judith

----- Original Message ----
From: Mike Orlyk <r1100rt@xxxxxxxxxxxxx>
To: amibroker@xxxxxxxxxxxxxxx
Sent: Sunday, March 11, 2007 4:38:46 PM
Subject: Re: [amibroker] Question on the BOP indicator

Hello Judith,

I was looking at the Kirk Report for last Friday ( http://www.thekirkr eport.com/ 2007/03/price_ volume.html );
He illustrated his commentary with a couple of TeleCharts using the BOP indicator. Between your description and what was shown in the referenced report, I have gotten a reasonable understanding of the indicator and its application.

Thanks for the input,

Mike

ohneclue wrote:

Mike,

I have TC2007 and am familiar with BOP.

The BOP is a measurement of large block sales (>10K) to measure institutional buying and separting them from us little people.

It is a scale with a 0 line. Red and yellow bars can be either above or below the 0 line but green can only be above. At least I've never seen green below the 0 line. I have seen yellow and red.

If there is a day when the price went up, open candle with long wick (sellers candle) the BOP can increase in red value because there were more 10K lots that went through as a downtick on an up day. The red can also go from -93 on a red BOP day with up candle (3-6-07 on VION) to a BOP red value of-72 on the next day (3-7-07), gap up, open candle with long wick (sellers candle).

Next day 3-8-07, Doji, BOP -84, followed by 3-9-07 gap up, long open candle and BOP went green with 55 value. Made no transition through yellow at all.

There are times when in a field of yellow, there is a single green up BOP day. VION 3-7-06 yellow BOP 28. Next day (3-8-06) Bop is green 33 and next day BOP is yellow 27.

Next few days are BOP Y19,Y21, G31,Y16,Y28, Y27, Y15, Y-12, Y-18, Y-8, Y-4Y1, Y5, Y11, Y11, Y10, Y-2, Y7, and so forth.

Hope this helps.

Judith

----- Original Message ----
From: Mike <r1100rt@xxxxxxxxxx com>
To: amibroker@xxxxxxxxx ps.com
Sent: Sunday, March 11, 2007 8:46:15 AM
Subject: [amibroker] Question on the BOP indicator

Hello,

Does anyone have any information on Worden Bros proprietary BOP
Balance of Power)indicator; how it is formed, how it is used? Has
anyone created something similar using AFL?

Thanks,

Mike

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