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Strategies & Market Trends : TC2000 Users Technical Analysis Forum

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To: Iceberg who wrote (1575)	1/20/1999 4:49:00 PM
From: Rob Kipp	Read Replies (1) of 3291

WORDEN BROS. BOP ??? I copied this, but forget where it came from. Rob- ----------------------------------------------------- BOP indicator: Close - Open -------------- X Volume for the day High - Low The ratio of the Open/Close range to the High/Low Range describes the intensity of the accumulation or distribution. It might be necessary to play games with the formula to compensate for the additional intensity of gap Opens and Close (I don't want to get into that). Then, they PROBABLY sum the results for the previous 'N' days and multiply by 100 to arrive at today's BOP figure. You must use absolute values here and there in building the formulae to get the correct results (i.e., an oscillator which ranges between +100 and -100), but I believe what spilled out for me approximated BOP.

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