Balance of Power - MetaTrader 5 Script - MQL5 #63099 - MT4/MT5 Resources

The Balance of Power (BOP) is an indicator originally developed by Igor Livshin in 2001 that measures the balance of power between buyers and sellers during each candle.
In this version, we have used a Simple Moving Average (SMA) smoothing calculation, reducing noise and making it clearer and more readable.

This indicator visually shows who controls the market :

Buyers (longs) when the closing price is close to the high;

Sellers (bears) when prices close near the lows.

The basis of the calculation is:

BOP = (closing price - opening price) / (highest price - lowest price)

BoP > 0 - Buyer dominance
BoP < 0 - Seller dominance
Balance of Payments ≈ 0 - Balanced or Indecisive
Extreme regions (e.g. ±0.2) - can indicate situations of exaggerated force that tend to correct

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Attachment download

📎 Balance_Of_Power.mq5 (7.17 KB)

Source: MQL5 #63099