Syntax
| Visual Basic (Declaration) | |
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Public Overloads Shared Function BalanceOfPowerOverPeriod( _ ByVal sc As SeriesCollection _ ) As SeriesCollection | |
| Visual Basic (Usage) |  Copy Code |
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| |
| C# | |
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public static SeriesCollection BalanceOfPowerOverPeriod( SeriesCollection sc ) | |
Parameters
- sc
- A collection of series objects. For example, to evaluate this indicator for two series you will need to pass a series collection containing this two series.
Return Value
A series is returned where the first term corresponds to the BOP of the last trading day, the second term gives the BOP on the previous trading day and so on.Exceptions
| Exception | Description |
|---|---|
| ArgumentException | Thrown if any elements from the highs, lows, closes or opens are strictly negative. |
Remarks
Interpretation
The BOP indicator for each trading day lies within the range [-1,1].
When the BOP indicator is towards the high if its range it will signifies that the
Bulls are in control, conversely when the indicator is towards the lows of its range
it signifies that the bear are in control. If the indicator move from a high positive
range to a lower positive range it signifies that the buying pressure is decreasing.
Conversely, if the indicator move from a low negative range to a higher negative range
it signifies that the selling pressure is decreasing.
Evaluation
The BOP indicator for each trading days is evaluated by the following formulae:
BOP = (Close - Open)/(High - Low)
where close is the days closing price, open is the days opening
price, high is the highest traded price during the day and low
is the lowest traded price during the day.