.netCHARTING v10.5 Documentation


dotnetCHARTING Namespace > FinancialEngine Class > BalanceOfPowerOverPeriod Method : BalanceOfPowerOverPeriod(SeriesCollection) Method
A collection of series objects. For example, to evaluate this indicator for two series you will need to pass a series collection containing this two series.
BalanceOfPowerOverPeriod(SeriesCollection) Method
Evaluates the Balance of Power (BOP) indicator, created by Igor Livshin; which captures the struggle between the Bulls and Bears over a number of trading days.
Syntax
'Declaration
 
Public Overloads Shared Function BalanceOfPowerOverPeriod( _
   ByVal sc As SeriesCollection _
) As SeriesCollection
'Usage
 
Dim sc As SeriesCollection
Dim value As SeriesCollection
 
value = FinancialEngine.BalanceOfPowerOverPeriod(sc)
public static SeriesCollection BalanceOfPowerOverPeriod( 
   SeriesCollection sc
)

Parameters

sc
A collection of series objects. For example, to evaluate this indicator for two series you will need to pass a series collection containing this two series.

Return Value

A series is returned where the first term corresponds to the BOP of the last trading day, the second term gives the BOP on the previous trading day and so on.
Exceptions
ExceptionDescription
Thrown if any elements from the highs, lows, closes or opens are strictly negative.
Remarks
An array is returned where the first term corresponds to the BOP of the last trading day, the second term gives the BOP on the previous trading day and so on.

Interpretation

The BOP indicator for each trading day lies within the range [-1,1]. When the BOP indicator is towards the high if its range it will signifies that the Bulls are in control, conversely when the indicator is towards the lows of its range it signifies that the bear are in control. If the indicator move from a high positive range to a lower positive range it signifies that the buying pressure is decreasing. Conversely, if the indicator move from a low negative range to a higher negative range it signifies that the selling pressure is decreasing.

Evaluation

The BOP indicator for each trading days is evaluated by the following formulae:

BOP = (Close - Open)/(High - Low)

where close is the days closing price, open is the days opening price, high is the highest traded price during the day and low is the lowest traded price during the day.

Requirements

Target Platforms: Windows 7, Windows Vista SP1 or later, Windows XP SP3, Windows Server 2008 (Server Core not supported), Windows Server 2008 R2 (Server Core supported with SP1 or later), Windows Server 2003 SP2

See Also