BOP - Balance Of Power
The Balance of Power indicator measures the market strength of buyers against sellers by assessing the ability of each side to drive prices to an extreme level.
Balance of Power = Moving Average((Close price – Open price) / (High price – Low price), n periods)
BOP to vary between -1 to +1. Crossover 0 indicates a bullish trend and when BOP crosses below 0 indicates a bearish trend.