Hello Judith,
I was looking at the Kirk Report for last Friday (
http://www.thekirkreport.com/2007/03/price_volume.html );
He illustrated his commentary with a couple of TeleCharts using the BOP
indicator. Between your description and what was shown in the
referenced report, I have gotten a reasonable understanding of the
indicator and its application.
Thanks for the input,
Mike
ohneclue wrote:
Mike,
I have TC2007 and am familiar with BOP.
The BOP is a measurement of large block sales (>10K) to measure
institutional buying and separting them from us little people.
It is a scale with a 0 line. Red and yellow bars can be either above
or below the 0 line but green can only be above. At least I've never
seen green below the 0 line. I have seen yellow and red.
If there is a day when the price went up, open candle with long wick
(sellers candle) the BOP can increase in red value because there were
more 10K lots that went through as a downtick on an up day. The red
can also go from -93 on a red BOP day with up candle (3-6-07 on VION)
to a BOP red value of-72 on the next day (3-7-07), gap up, open candle
with long wick (sellers candle).
Next day 3-8-07, Doji, BOP -84, followed by 3-9-07 gap up, long open
candle and BOP went green with 55 value. Made no transition through
yellow at all.
There are times when in a field of yellow, there is a single green up
BOP day. VION 3-7-06 yellow BOP 28. Next day (3-8-06) Bop is green
33 and next day BOP is yellow 27.
Next few days are BOP Y19,Y21, G31,Y16,Y28, Y27, Y15, Y-12, Y-18, Y-8,
Y-4Y1, Y5, Y11, Y11, Y10, Y-2, Y7, and so forth.
Hope this helps.
Judith
----- Original Message ----
From: Mike <[EMAIL PROTECTED]>
To: [email protected]
Sent: Sunday, March 11, 2007 8:46:15 AM
Subject: [amibroker] Question on the BOP indicator
Hello,
Does anyone have any information on Worden Bros proprietary BOP
Balance of Power)indicator; how it is formed, how it is used? Has
anyone created something similar using AFL?
Thanks,
Mike
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