OK, now I understand. Will do it
Try out this version
It is a bit changed. It is a 3 state indicator now (with default color for neutral state set to no color, so, with default parameters, it is working as the older 2 state one). Also check the issue you wanted to be solved (it should be working as you wanted it to work now).
Would it be possible to convert this indicator to MT4 ? With adjustable smoothing period ?
Indicators - Balance of Power - MQL5 Code Base
There are a couple of balance of market power indicators for metatrader 4. For example, one (with documentation) is posted here : https://www.mql5.com/en/forum/general and one more here : https://www.mql5.com/en/forum/generalhttps://www.mql5.com/en/forum/general but as I see the formula used is different (the one from metaquotes site is much simpler). Will check what is the correct balance of market power formula and will get back to you
PS: it seems that the one from the elite section is using the correct formula. See this description from 2000 for metastock : MetaStock Online Community - Aug 2000: Balance of Market Power . That is the formula from the indicator used in the elite section version
One last request if possible for the new Squize_MA averages zones mtf 2.mq4 . Could you have to option of displaying lines or rect zones. This could be a solution to displaying zones for multiple time frames, if not I am already happy.
That's great! Thank you.
I wondered if you could possibly create a BoP histogram indicator ? With different colour bars above/below a zero line ? With adjustable smoothing ?
Try this one. You have to set the DrawAsBack to false, and in that case it will draw rectangles (lines) instead of filled in rectangles. If you set the DrawAsBack to true, it will work as it worked before
You mean to have that simplified formula from metaquotes site or some of the ones from the elite section?
This works great!