After reading the thread below (bop55) I thought a few comments and charts might be of help.
BOP is not really range bound as you can see from the different charts. Being a function of price and the volitity thereof, it can rise or fall at different rates. It will trend up in a "bullish trend" and down in a "bearish trend". Like most indicators higher bottoms and lower tops etc. have a meaning and might sometimes predict a trend before it is seen elsewhere. NEBT made good use of some channel lines on his chart and this is where it can be the most helpful. Hope the charts help you some. NOTICE the area of May '02 - March '03, a very early signal of trend change.
Questions and comments welcome, best to all,
