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Registered User
Joined: 1/12/2005
Posts: 6
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I am considering get into tick symbol "SANYY". Its TSV seems Ok and today has strong green bar on both volume and BOP while price didn't jump up a lot.
But after looking into today's chart, I reliazed today's high volume happened when the stock is going down even though it closes at high.
So is that mean this strong green bar on both volume and BOP includes volume of selling not just buying?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The answer to that question for Volume is straightforward. Volume is green if the current price or close is higher than previous bar, otherwise it is red. It includes both the up and down volume and makes no attempt (other than looking at the end result for the period) to determine how much of the volume was up or down.
The answer for BOP is simply, "I don't know." Green BOP represents values greater 30, Yellow BOP represents values from 30 to –30, and Red BOP represents values less than –30, but the indicator is proprietary. I have no idea how it is calculated and can't tell you what it takes into account to determine its final value.
-Bruce
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Follow this link to an essay I reprinted by Don Worden which should give you some insight about BOP.
BOP
- Craig
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