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BOP = BALANCE OF POWER


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#1 mss

mss

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Posted 13 February 2007 - 10:07 AM

BOP = BALANCE OF POWER, a measure of money flow based on price. Also referred to as BMP, balance market power. It is useful in forecasting direction changes based on the daily price action of the Index or stock you are following. When the calculations yields the "raw number" then any SMA or EMA may be applied. Crossovers of two MAs' are sometimes useful. Short term 13&21, IT 21&34, LT single 89, 144 ids' trends well. VERY REFINED: USE THE FOLLOWING CALCULATIONS: (FOR EXCEL) BULL-OPEN=(HIGH-OPEN)/(HIGH-LOW) BEAR-OPEN=(OPEN-LOW)/(HIGH-LOW) BULL-CLOSE=(CLOSE-LOW)/(HIGH-LOW) BEAR-CLOSE=(HIGH-CLOSE)/(HIGH-LOW) BULL-O/C=IF CLOSE>OPEN,(CLOSE-OPEN)/(HIGH-LOW),IF NOT,0 BEAR-O/C=IF OPEN>CLOSE,(OPEN-CLOSE)/(HIGH-LOW),IF NOT,0 RAW POWER=(BULL OPEN+BULL CLOSE+BULL O/C)/3 MINUS (BEAR OPEN+BEAR CLOSE+BEAR O/C)/3 SPREADSHEET TAKE-OFF BULL-OPEN =(D2-C2)/(D2-E2) BEAR-OPEN=(C2-E2)/(D2-E2) BULL-CLOSE=(F2-E2)/(D2-E2) BEAR-CLOSE=(D2-F2)/(D2-E2) BULL-OC=IF(F2>C2,(F2-C2)/(D2-E2),0) BEAR-OC=IF(C2>F2,(C2-F2)/(D2-E2),0) RAW POWER=(G2+I2+K2)/3-(H2+J2+L2)/3 C=OPEN G=BULL-OPEN D=HIGH H=BEAR-OPEN E=LOW I =BULL-CLO F=CLOSE J=BEAR-CLO K=BULL-O/C L=BEAR-O/C M=RAW POWER SIMPLE VERSION: TRADERS' TIPS, AUGUST 2001, STOCKS & COMMODITIES MAG. This balance of market power indicator discussed this month by Igor Livshin breaks down to nothing more than: (CL - OP)/(HI - LO)= BOP regardless of whether the CL is greater than OP. When you plug in the variables and break it down to its simplest form, you get: Change / Range = BOP or BMP
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