The Point of Balance indicator.
It is calculated by the following formula:
BL =(MinH+MaxH)/2, BR =(MinL+MaxL)/2, POB =(BL+BR)/2,
where
- MinH, MaxH – is the maximum and minimum of HIGH prices over the period;
- MinL, MaxL – is the maximum and minimum of LOW prices over the period.
The indicator has one input parameter:
- Period – indicator calculation period.
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