Registered User Joined: 5/10/2010 Posts: 45
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I’m utilizing BOP, Balance of Power more frequently. I am trying to understand the applicability and functionality of this indicator. Specifically I notice that I am seeing different BOP indications being generated during different time periods. I might see a BOP greater than 30 on a given day utilizing the day filter however not see it for the two hour or four hour filter. Likewise I might see it for an hourly filter for a few days however not during that period of time utilizing the daily filter. Can someone point me to an article or other reference on the sensitivity and applicability of BOP during different time frames.
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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There really isn't going to be an article about this. It is just fundamental to the nature of indicators in general that they can return different signals in different time frames.
As a general rule, shorter periods and shorter time frames are going to be more sensitive than longer periods and time frames (I know BOP doesn't have a period). Shorter generally reacts more quickly, but longer is less subject to false signals and whipsaws.
Daily v.s. Hourly Balanced of Power (BOP)
BOP (D) vs (5)
BOP values between Daily and Weekly charts
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 7/29/2010 Posts: 417
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QUOTE (nuggets12)
I’m utilizing BOP, Balance of Power more frequently. I am trying to understand the applicability and functionality of this indicator. Specifically I notice that I am seeing different BOP indications being generated during different time periods. I might see a BOP greater than 30 on a given day utilizing the day filter however not see it for the two hour or four hour filter. Likewise I might see it for an hourly filter for a few days however not during that period of time utilizing the daily filter. Can someone point me to an article or other reference on the sensitivity and applicability of BOP during different time frames.
This article may help you:
http://www.traderplanet.com/articles/view/167551-track-the-dark-pools-with-the-balance-of-power-bop-indicator/
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