The Balance of Power indicator can be charted on investment iqafter installing our free Advanced Indicator Pack. Please see our investment iq
Plug-Ins article in the Support Center for more information on installing this plug-in.
Once the plug-in is installed, the Balance of Power indicator can be added from the Chart Settings panel for your investment iq
chart. The indicator can be positioned above, below, or behind the security’s price plot.
By default, the indicator is smoothed with a 14-period SMA, but the number of periods can be adjusted to meet your technical analysis needs.
Scanning for BOP
StockCharts members can screen for stocks based on Balance of Power (BOP) values. Below are some example scans that can be used for BOP-based signals. Simply copy the scan text and paste it into the Scan Criteria box in the Advanced Scan Workbench.
Members can also set up alerts to notify them when a BOP-based signal is triggered for a stock. Alerts use the same syntax as scans, so the sample scans below can be used as a starting point for setting up alerts as well. Simply copy the scan text and paste it into the Alert Criteria box in the Technical Alert Workbench.
Bullish Zero-Line Crossover
This scan reveals stocks where the Balance of Power indicator crosses above zero, which is a bullish sign. This scan is just a starting point. Further refinement and analysis are required.Copy
[type = stock] AND [country = US]
AND [Daily SMA(20,Daily Volume) > 40000]
AND [Daily SMA(60,Daily Close) > 20]
AND [BOP(14) x 0]Bearish Zero-Line Crossover
This scan reveals stocks where the Balance of Power indicator crosses below zero, which is a bearish sign. This scan is just a starting point. Further refinement and analysis are required.Copy
[type = stock] AND [country = US]
AND [Daily SMA(20,Daily Volume) > 40000]
AND [Daily SMA(60,Daily Close) > 20]
AND [0 x BOP(14)]For more details on the syntax for Balance of Power scans, please see our Scan Syntax Reference in the Support Center.
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