The Balance of Power (BOP) indicator was described by Igor Livshin and measures the strength of the bulls vs bears by assessing the ability of each to push price to an extreme level. The BOP oscillates between extremes of -1 and +1.
MT5 Indicator – Download Instructions
Balance of Power is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
Balance of Power provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Balance of Power.mq5?
- Download Balance of Power.mq5
- Copy Balance of Power.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on Balance of Power.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Balance of Power.mq5 is available on your Chart
How to remove Balance of Power.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: