DSL Balance of Market Power JMA - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The balance of power proposed by Igor Livshin attempts to measure the strength of buyers versus sellers by assessing both parties' ability to push prices to an extreme level. Livshin in the August 2001 issue of Stocks and Commodities Magazine. This version of the indicator calculates the balance of payments exactly as described in the article where it is published.
In this case, you can choose to use any Jurik MA to smooth the resulting raw BOP values and use discontinuous line levels for the signal. In this way, it becomes an adaptive indicator (as DSL is introducing something like adaptive - by not using fixed levels to represent importance levels)
Attachment download
📎 dsl_-_balance_of_market_power_jma.mq5 (14.01 KB)
Source: MQL5 #22108
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