| Welcome Guest, please sign in to participate in a discussion. | Search | Active Topics | |
Registered User
Joined: 4/9/2009
Posts: 1
|
Hi I'm looking at the chart of PAL. The BOP for the Daily view is green. The BOP for the 15 view is red/blue/red. Which is the correct reading?
Thanks. Lucy
|
|
Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
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!
They are both "correct" for their given Time Frame as the Balance of Power calculations are based on Bars.
Basic Info on BOP, TSV and MoneyStream
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
|
|
Registered User
Joined: 1/1/2005
Posts: 2,645
|
QUOTE (Bruce_L) They are both "correct" for their given Time Frame as the Balance of Power calculations are based on Bars.
Bruce,
I am guessing that "15 view" means a 15-minute time frame. I do not have intraday data so I cannot verify that BOP is calculated on 15-minute bars using the same formula as when calculated on daily bars. My guess is that it is?
For a multiday time frame. the built-in BOP is much like the built-in MS in that the calculation is on daily bars, not multiday bars. If one wants either calculated on multiday bars, he can plot it as a Custom Indicator.
Your comments will be appreciated.
Thanks,
Jim Murphy
|
|
Registered User
Joined: 1/1/2005
Posts: 2,645
|
Addendum:
Generally, I find BOP on multiday time frames not realizable in the sense that it uses future data to calculate its value.
Thanks,
Jim Murphy
|
|
|
Guest-1 |