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Kevin,
This might help.
The August 2001 S&C contained an article by Igor Livshin
titled "Balance Of Power." It has been brought to our attention that
the phrases "Balance Of Power" and "BOP" are trademarks of Worden
Brothers, Inc. In the future, we will refer to Igor Livshin's
technique as "balance of market power (BMP)." We regret any confusion
this may cause.
Dave
--- In Metastockusers@xxxxxxxxxxxxxxx, Kevin <kevin_barry@xxxx> wrote:
> This is the Balance Of Power formula taken from S&C magazine.
However, the
> resulting plot is all over the shop and it looks nothing like the
> BOP indicator in TC2000.
>
> Is anybody using BOP in Metastock? If so, can you see what the
problem
> might be?
>
> 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 Based 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
>
> Thanks in advance.
>
> Regards,
> Kevin
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