SC MTF Balance of Power MT4

What is BOP?

Balance of Power (BOP) is an oscillator that measures the strength of buyers versus sellers by comparing the change in price to the range of the bar. The indicator is calculated as (Close - Open) / (High - Low), then smoothed with a Simple Moving Average (SMA).

BOP values range between -1 and +1. Positive values indicate buyers are stronger (close is higher than open), negative values indicate sellers are stronger (close is lower than open). The magnitude of the value shows the strength of the movement. BOP helps identify market strength and potential reversals by showing the balance between buying and selling pressure.

Features:

• Visual signal markers with arrows and vertical lines
• Three independent signal buffers with configurable triggers
• Signal detection options: direction change, level cross, peak/valley
• Configurable alert functions for each signal (email, push, sound, popup)
• Multi-timeframe (MTF) capability with interpolation methods
• Histogram or line drawing mode
• Multiple color modes (simple, direction-based, level-based)
• Custom indicator call (iCustom) buffer access for Expert Advisor (EA) integration

Input Parameters:

• Basic Settings:
  • BOP period: Period for Simple Moving Average (SMA) smoothing calculation.
  • BOP bar shift: Offset the line drawing by specified number of bars.
  • BOP timeframe: Choose timeframe for MTF display.
  • MTF Interpolation mode: Select smoothing method (Off, Linear, Smooth, Weighted, Simple Moving Average).
• Levels Settings:
  • Show level: Toggle level line visibility.
  • Adjust level value: Set custom level position.
  • Level appearance: Customize color, style, and width.
• Signal Settings:
  • Signal 1/2/3 trigger: Configure detection type (direction change, level cross, peak/valley).
  • Visual markers: Enable arrows and vertical lines with customizable size, style, and position.
  • Arrow customization: Set Wingdings codes and colors for up/down signals.
• Alert Settings:
  • Alert timing: Choose when alerts trigger (Off, After close, Before close, Both).
  • Alert interval limit: Set minimum minutes between repeated alerts.
  • Time range filter: Restrict alerts to specific hours.
  • Delivery methods: Enable email, push, popup, and sound notifications.
• Color and Style Settings:
  • Color mode: Select from multiple modes (simple, direction-based, level-based).
  • Histogram mode: Switch between line and histogram display.
  • Line appearance: Customize colors (4 per line), style, and width.