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Balance of power indicator

MadRoofer
MadRoofer ✭
in Other Charting Tools
Does anyone know if there is a indicator similar to the balance of power (BOP) for stockcharts. Thanks

Comments

  • markd
    markd mod
    I've never seen BOP, but it seems to me RSI would be most similar. RSI compares the average gains on close to the average losses on close. BOP measures how much of the daily range buyers or sellers end up "owning". BOP might be more sensitive because it takes into account candles with wicks or tails, which might reveal buyer or seller weakness before RSI does. RSI is pretty popular and time tested, so it would be worth comparing if you have access to both.
  • MadRoofer
    MadRoofer ✭
    Good point thank you.

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