Real author:

RoboFx

The Balance of Power (BOP) indicator as a color histogram of strength and direction of the current trend. The histogram is colored according to the values input parameters for overbought and oversold levels and the movement direction of the histogram.

The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

Originally this indicator has been written in MQL5 and was first published in the Code Base on 07.02.2013.

Fig.1. The BalanceOfPower_Histogram indicator