Aarika Balance of Power Trend (ABOPC)

Hello traders, this is Balance of Power. We have modified some levels to easily identify the trend of the symbol. This will work on any symbol and on any timeframe!

How to trade based on ABOPC:
1) When BOP is above 0.00 line it indicates a Bull trend and below 0.00 level means a bearish trend may come in action.
2) If BOP line is at 0.10 level, it means there is a 50% chance of reversal
3) If BOP line is 0.20 level, it suggests 90% chance of reversal or sideways market.

We highly recommend not to trade solely based on this indicator, rather use this as a supportive or double confirmation indicator for study purpose.

Thanks.

Disclaimer: This indicator was not created by us but we only modified it for study purpose.

Nota Keluaran

Hello everyone. This is an updated version of current indicator. It gives us idea of short term (herewith denoted as minor) and long term (major) trend via lines and bars. This is a basically combination of two different version brought together and updated to v5.

How to read minor trend: If BOP (default Maroon colour) is above SmootherBOP (default Blue colour) then it can be a short term LONG position and vice-versa.

How to read minor trend: if the bars are in Green colour, it is believed to be a bullish trend, and Red bars can be considered as bearish trend.

You're advised not to take trades on the basis of this indicator as this indicator is created for study purpose.
Author will not be responsible for any of your financial losses if you do trade on this indicator basis!

Hope you all will enjoy this version of ABOPC!

Nota Keluaran

Hello everyone,
This latest and modified version gives trader a comfort to see the clear Bull or Bear trend with high accuracy.
Green (Bull zone)/Red (Bear zone) mountains appear according to the trend of the script.
Green and Red bars indicates if the Bull or Bear is stronger or not!!! (extra confirmation)

How to identify the trend:

1) If the Green mountain is above value 2 and Red mountain is above -2 then it can be a bull trend and vice-versa. If Green/Red Bars appear in the same time, then we may assume that the trend is very strong.

2)If the Green mountain is above 2 and Red mountain is below -2 (means if you see both mountains rising in opposite directions), it will be most likely a range bound scenario.

3) BOP trend lines have the same functions as earlier version i.e. BOP above Zero line can be a Bull trend and below Zero line can be a Bear zone, whereas crossovers can act as a trend reversal.

Thank you.

Nota Keluaran

Hello, With some modifications, now its easier for a trader to identify the trend. Let's see how it can probably work on chart (here we will refer BOP - it a Blue coloured Line and SBOP - it is Orange coloured Columns)
So these may be the cases:
(1) BOP is above Zero & SBOP above Zero = Probable BULL Trend
(2) BOP is above Zero & SBOP below Zero = Probable SIDEWAYS
(3) BOP is below Zero & SBOP above Zero = Probable SIDEWAYS
(4) BOP is below Zero & SBOP below Zero = Probable BEARISH Trend

Using ATT indicator with ABOPT might help you more.

Thanks.

Nota Keluaran

Bug fix!

Nota Keluaran

Updated cleaner version. Bug fixed!

Nota Keluaran

A very important and the last update of this indicator. I have simplified the version to the most possible way without any complexion, now it's easy to understand just by looking at the chart.

How to read the data (Bull Power v/s Bear Power):

We can see Red (upper line) & Green (bottom line) horizontal lines and Bulls (Green columns) & Bears (Red columns).

1) If the Bull columns are above the red line and Bear columns are not closing below green line then it's a good to Long signal.

2) If the Bear columns are below the green line and Bull columns are not closing above red line then it's a good to Short signal.

3) If the columns are in-between the horizontal lines (it's very choppy/dead/range-bound market).

4) If the Bulls are spread above red line and at the same time Bears are below green line, then its a little wider range-bound with upcoming spike either side (depending upon who empowers the other - need to watch closely for condition 1 & 2 mentioned).

Thanks!

Nota Keluaran

The Aarika Balance of Power (ABOP) is a multi-timeframe (MTF) momentum indicator designed to visualise the tug-of-war between buyers and sellers. By measuring current price relative to its LookBack Period's high/low and normalising it with the ATR; ABOP isolates strong trends from market noise.

The indicator colours the background to give clear structural signals: Green for a bullish trend, Red for a bearish trend, and Gray for a "No Trade Zone" when momentum is trapped between key thresholds. Remember, default 50 look-back period works on most script but you're advised to change values of Period, LevelUp and LevelDown and see what works almost perfect for your trading style.

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