DSL Balance of market power JMA - indicator for MetaTrader 5

Balance of Power, introduced by Igor Livshin attempts to measure the strength of buyers vs. sellers by assessing the ability of each to push price to an extreme level. Livshin published this indicator in the August 2001 issue of Stocks and Commodities Magazine. This version of indicator calculates the BOP exactly as it is described in the article where it was published.

The resulting raw BOP values can be optionally smoothed using any Jurik MA in this case and discontinued signal line levels are used for signals. That way, it is made a sort of an adaptive indicator (since DSL is introducing something like an adapting - by not using fixed levels for significant levels)