Smoothed Balance of Power
Smoothed BOP to try and find dark pool activity. Only works in charts with working volume!
Credits go to LazyBear for some coding on the plotting and Igor Livshin for the formula.
Credits go to LazyBear for some coding on the plotting and Igor Livshin for the formula.
// author : SatNam // credits to LazyBear and Igor Livshin study(title="SN-BOP") length=input(14) lengthSMA=input(50) PlotEMA=input(true, "Plot SMA?", type=bool) THL = (high-low) ? .00001 : (high-low) BuRBoO = (high - open)/(THL) BeRBoO = (open - low)/(THL) BuRBoC =(close - low)/(THL) BeRBoC =(high - close)/(THL) BuRBoOC = close > 0 ? (close-open)/(THL) : 0 BeRBoOC = close > 0 ? 0 : (open -close)/(THL) BOP = ((BuRBoO+BuRBoC+BuRBoOC)/3) - ((BeRBoO+BeRBoC+BeRBoOC)/3) vwBOP = vwma(BOP, length) barcolor = vwBOP >= 40000 ? green : vwBOP <= -40000 ? red: gray hline(0) plot(vwBOP, style=columns, color = barcolor) plot(PlotEMA?ema(BOP, lengthSMA):na, color=navy, linewidth=2)