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Balance of Power
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=72351
Forum: 17 · Topic 72351 · 1 post(s)
Balance of Power
Apprentice · Mon Jun 06, 2022 3:52 pm
The Balance of Power indicator measures the market strength of buyers against sellers by assessing the ability of each side to drive prices to an extreme level.
Traders may use this indicator to help:
Identify the direction of a trend. Find divergences between the price and the BoP in order to identify a potential trend reversal or trend continuation setup. Take advantage of overbought and oversold conditions.