Open-source scriptindicator/v1
Balance of Power
Compare the close-open move with each bar range to estimate buyer and seller control.
#balance-of-power#momentum#oscillator
Description
Balance of Power measures how strongly price moves from the open to the close relative to the full high-low range. Positive values indicate greater buying control during a bar and negative values indicate greater selling control.
Open-source script. Everyone can inspect the source code, use the script on a chart, and save an editable copy.
Release notes
Version history · 1 published version
Version 1CurrentChart updatedBalance of Power · Aug 31, 2026
Source codempl-2.0View sourceHide source
indicator("Balance of Power", { overlay: false });
const bop = close.map((c, i) => {
const span = high[i] - low[i];
return span === 0 ? 0 : (c - open[i]) / span;
});
plot(bop, { title: "BOP", color: "#2962ff", lineWidth: 2 });
hline(0, { title: "Zero", color: "#78909c", style: "dotted" });
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