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Miha Kralj
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# BOP: Balance of Power
| Property | Value |
| ---------------- | -------------------------------- |
| **Category** | Momentum |
| **Inputs** | OHLCV bar (TBar) |
| **Parameters** | None |
| **Outputs** | Single series (BOP) |
| **Output range** | Varies (see docs) |
| **Warmup** | `> 0` bars |
### TL;DR
- The Balance of Power measures buying versus selling pressure by comparing the body (Close minus Open) to the range (High minus Low).
- No configurable parameters; computation is stateless per bar.
- Output range: Varies (see docs).
- Requires `> 0` bars of warmup before first valid output (IsHot = true).
- Validated against TA-Lib, Skender, and Tulip reference implementations where available.
> "The market is a tug of war between buyers and sellers. BOP tells you who's pulling harder."
The Balance of Power measures buying versus selling pressure by comparing the body (Close minus Open) to the range (High minus Low). Created by Igor Livshin in 2001, this ratio oscillates between -1 and +1, providing instantaneous momentum readings with zero lag. A stateless indicator: each bar evaluated independently, no memory of previous values required.
@@ -333,4 +350,4 @@ Zero per-bar allocations. No state accumulation. Memory footprint independent of
- Livshin, I. (2001). "Balance of Power." *Technical Analysis of Stocks & Commodities*, August 2001.
- Investopedia. "Balance of Power (BOP) Indicator." https://www.investopedia.com/terms/b/bop.asp
- Achelis, S. (2000). *Technical Analysis from A to Z*. McGraw-Hill. (General indicator theory)
- Achelis, S. (2000). *Technical Analysis from A to Z*. McGraw-Hill. (General indicator theory)