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Constellation
Posted : Wednesday, February 23, 2011 7:55:12 PM
Registered User
Joined: 2/7/2006
Posts: 27
Hello,

Worden email support suggested that I could ask the trainers about this.

In TC2007, BOP has surprising behavior when you ask it to display on multi-day bars. For instance, look at IBM using 5-day bars. If you scoll back 2 bars, the BOP bar that's on the far side of the screen that was small and gray will become large and green as it reaches the far right side of the chart. Keep scrolling back to see more strange behavior when you reach the 5-day bars from early October and late September. Other stocks seem to have the same issue with BOP changing at the far right side of the screen as you scroll back, such as FRM and INTC.

On IBM, BOP5.5 returns a value of 9.60, which is far lower than the high gray and green BOP bars that appear on the chart using 5-day bars. I calculated BOP5.1 through 5.5 and the conclusion that I reach is that BOP as it is displayed on 5-day bars is inconsistent with how BOP calculates as a PCF.

What is happening here?

Thank you.
bustermu
Posted : Wednesday, March 2, 2011 7:53:07 AM
Registered User
Joined: 1/1/2005
Posts: 2,645

Constellation,

As stated in:

http://forums.worden.com/default.aspx?g=posts&t=45546

_____________

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.

Generally, I find BOP on multiday time frames not realizable in the sense that it uses future data to calculate its value.
_____________

For a 5-Day time frame, the built-in BOP value for a bar is:

1)  for bars not at the right-edge, the BOP value for the Daily bar three market days after the 5-Day bar date.

2) for the bar at the right-edge, the BOP value for the Daily bar with the 5-Day bar date.

This explains your observations, but not why one would construct such an indicator.

Thanks,
Jim Murphy

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