looking for basic version of Balance of Market Power, by Igor Livshin
I am going to begin looking for a much overlooked indicator created by Igor Livshin called Balance of Market Power. There are a few specific needs based on application. Is anyone familiar with BMP? Is there a version floating around in the Mikeosphere?
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That is beautiful. I have a few ideas to add if possible, mostly with display. Maybe next week we can have a fs session as well. I may have an issue with Auction Bars SMA name space in there causing issue exporting?
I have already reviewed the indicator, as I did not like the simple moving average. I think that the indicator has a better usability, if a different way of smoothing is used. I have therefore added the box with the 27 moving averages to apply to the raw balance of power. Chart attached.
The export issue is a known limitation of NinjaTrader. If you have an assembly installed that uses system indicators, those indicators may exist twice (once as part of the NinjaTrader assembly and once as part of the installed assembly). When exporting another indicator that refers to the SMA NinjaTrader may not autoselect it, as it hesitates which one to choose. But you can then take the system indicator SMA and add it manually within the export dialogue box.
There is also a NinjaTrader bug, which occasionally hits. For example, I always have to manually add the anaADXVMA when exporting an indicator file for unknown reasons.
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I can't wait till Monday to see the BMP in action.
Maybe next week we can talk about the histogram being a net value above or below the zero. I see the net line and I think I like that better than the idea of a net histogram. My eye, though, has become accustomed (trained) to look at color change based on net pos or net neg rate of change. Please don't make those changes yet at the expense of the current view, but I wonder if that type of view would be difficult to create?
I am not fluent in C#, but I will spend some time reading this code over the weekend. The "27 pack" addition is so powerful. It was not that long ago that the sma calculated manually end of day was the state of the art...lol
If past application is valuable to the discussion we can type about that next week too.
So grateful that you freely share your diverse skills...especially where they diverge from mine. I wish, Harry, that there was something that I could do for your benefit that would even come close to how you have helped us.
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