Registered User
Joined: 3/16/2005
Posts: 1
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Hi, would you please explain how a stock could have such negative BOP on an up day like with MOT today? Thanks
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Welcome to the forums. A very good foundation for learning how to use TeleChart can be gained by reviewing the following:
If you are new to TeleChart READ THIS FIRST!
The algorithm used for Balance of Power (BOP) is proprietary (but based entirely on Price and Volume). One of its features is that it can and does contradict Price when the algorithm identifies other characteristics that would make BOP negative.
Basic Info on BOP, TSV and MoneyStream
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 1/1/2005
Posts: 2,645
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QUOTE (PghTCuser) Hi, would you please explain how a stock could have such negative BOP on an up day like with MOT today?
PghTCuser,
For an explanation, please follow my posts beginning at:
http://forums.worden.com/Default.aspx?g=posts&t=40839
The negative BOP today is caused by the extremely high volume on the down day 01/28/10 aided by that on the down day 01/29/10. Both volumes are higher than any volume in over two years. Under normal conditions, their strong effect on BOP will end in 6 more market days. You will notice that BOP did move up during the day as volume increased.
Thanks,
Jim Murphy
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