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Ron,
Formula below. I have not tried it out yet myself. Please let me
know what you think?
BOP
THL:=If(H-L=0,.00001,H-L);
{Reward Based on the Open}
BuRBoO:=(H-O)/(THL);
BeRBoO:=(O-L)/(THL);
{Reward Based on the Close}
BuRBoC:=(C-L)/(THL);
BeRBoC:=(H-C)/(THL);
{Reward Bases on the Open-Close}
BuRBoOC:=If(C>O,(C-O)/(THL),0);
BeRBoOC:=If(C>O,0,(O-C)/THL));
BOP:=(BuRBoO+BuRBoC+BuRBoOC)/3 -
(BeRBoO+BeRBoC+BeRBoOC)/3;
BOP
To plot the moving average, add the following line to the formula:
Mov(BOP,14,S)
Author uses a 14 period and a 95 period plot to show short term and long
term trends.
The indicator is used like a ROC or RSI indicator where you look for
Divergences or breaks in Support or Resistance to predict price changes.
BH
----- Original Message -----
From: "Ron" <ronber@xxxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Sunday, May 19, 2002 7:41 PM
Subject: Re: TC2000 BOP
> Bill,
>
> I would apreciate it a great deal, if you would be so kind as to post
> the complete formula.
>
> Ron
>
> billhebert wrote:
>
> >Ron,
> >
> >I have found that the TSV and Moneystream indicators in TC2000 to be
quite
> >useful
> >
> >The BOP indicator is the least useful of the three. Worden even stated
that
> >their
> >BOP indicator does not work well on high cap stocks. These turn out to
be
> >the
> >only stock with high enough volume to trade
> >
> >BOP does work well though when their is significant BOP selling of about
11
> >days.
> >As it starts to recover their is typically an increase in the price of
the
> >security.
> >
> >Their is an Article on BOP in the August 2001 copy of Stocks and
Commodities
> >Magazine by Igor Livishin. He creates the indicator in three components
of
> >three
> >different reward criteria. What is interesting is that if you combine
the 3
> >different
> >reward criteria formulas into one formula you get.
> >
> >BOP = (C-O)/(H-L)
> >
> >After Worden saw the article he made them change the name of the
indicator,
> >it is
> >now call BMP
> >
> >The full formula for the three different reward criteria are on page 73
Aug
> >'01 S&C
> >
> >If you do not have that issue I can send the complete formula
> >
> >BH
> >----- Original Message -----
> >From: "Ron" <ronber@xxxxxxxxxxxxx>
> >To: <metastock@xxxxxxxxxxxxx>
> >Sent: Sunday, May 19, 2002 7:55 AM
> >Subject: TC2000 BOP
> >
> >
> >>>
> >>>Hi all -
> >>>
> >>>Is there a parallel indicator of TC2000's BOP avaailable in MetaStock?
> >>>
> >>TIA
> >>Ron
> >>
> >>>
> >>
> >
> >
> >
>
>
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