MetaTrader 5
Experts
Indicators
Scripts
Libraries
StorageJoin our fan page
- Views:
- 355
- Published:
-
You are missing trading opportunities:- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration Log inYou agree to website policy and terms of use
If you do not have an account, please register -
Need a robot or indicator based on this code? Order it on Freelance
Go to Freelance
The Balance of Power (BOP) is an indicator originally developed by Igor Livshin in 2001 to measure the balance of power between buyers and sellers during each candle.
In this version, we've used a Simple Moving Average (SMA) to smooth out the calculation, reducing noise and making it clearer to read.
This indicator visually shows who is in control of the market:
-
Buyers (bulls), when the close is close to the high;
-
Sellers (bears), when the close is close to the low.
The basis of the calculation is:
BOP = (Close - Open) / (High - Low)
BOP > 0 - buyer dominance
BOP < 0 - seller dominance
BOP ≈ 0 - balance or indecision
Extreme zones (e.g. ±0.2) - can indicate situations of exaggerated strength that tend towards correction
Translated from Portuguese by MetaQuotes Ltd.
Original code: https://www.mql5.com/pt/code/63099
A script for a tester that extends the standard MetaTrader 5 optimisation features
This is a tester script that extends the standard MetaTrader 5 optimisation capabilities, allowing you to evaluate strategies according to complex user-defined criteria (with separation into in-sample and out-of-sample periods, advanced metrics and statistical tests).
3 way Aroon value calculation
Showing different ways of the Aroon values calculation
PriceVar
PriceVar% is an indicator designed to measure the percentage difference between the price and a moving average, highlighting the strength of the market movement in relation to a reference value.
MACD Signals
Indicator edition for new platform.