Registered User
Joined: 11/8/2006
Posts: 32
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what amount of shares buying does BOP represent in Telechart Gold?
my general assumption was that anything above 5000 shares bought at a time gives it a green bar. is that true?
I would like to know exactly how its calculated so I can read it correctly.
what does GREEN BOP bar means --- how many shares?
what does RED BOP bar means --- how many shares?
What is HEIGHT of the bar representing? is it comparable to the height of the VOLUME bar that day?
An example: I see CHNR with green BOP all the way for quite sometime, although the volume has declined from 2 mil to 200 thousand. the BOP is still green to the fullest. -- even when the stock is in a decline. a little explanation would help me in strategizing my moves better.
I would really appreciate more light on this.
thank you in advance!
vtandon
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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The indicator is proprietary so the actual calculations of the indicator are not released.
QUOTE my general assumption was that anything above 5000 shares bought at a time gives it a green bar. is that true?
Tick data cannot be a part of how BOP is calculated because TeleChart does not have access to downloaded historical tick data. However the indicator is calculated, it is done based on the data downloaded or streamed (if platinum). So the answer is, "no", it is not calculated based on a set value of a particular trade or number of shares of a trade.
The definitive resource for learning how to interpret this indicator is via the Peter Worden Video called "Interpreting Balance of Power". You can get the video here: Books and Videos
You may also find these links interesting:
Don Worden on the history of BOP and MoneyStream
Sorting for BOP
- Craig
Here to Help!
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