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Balance of Market Power
Source: https://fxcodebase.com/code/viewtopic.php?f=48&t=66429
Forum: 48 · Topic 66429 · 1 post(s)
Balance of Market Power
Alexander.Gettinger · Mon Aug 06, 2018 1:45 pm
The Balance of Market Power indicator, presented by Igor Livshin in his article “Balance of Market Power”.
Formulas: BMP = (BuO+BuC+BuOC)/3-(BeO+BeC+BeOC)/3, Signal = MVA(BMP) with [Length] number of periods, where BuO = (High-Low)/THL, BeO = (Open-Low)/THL, BuC = (Close-Low)/THL, BeC = (High-Close)/THL, BuOC = (Close-Open)/THL, if Close>Open, else BuOC = 0, BeOC = (Open-Close)/THL, if Close<Open, else BeOC = 0, THL = High-Low.
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