Asymmetrical RSI is an indicator that computes a custom relative strength index from the rate of change of a user-selected source. It plots the resulting ARSI line in a separate pane with color coding that turns green above the overbought level and red below t
Indicator · Pine Script v6 · Own pane
Balance of Power (BOP)
This indicator calculates the Balance of Power oscillator to gauge underlying buying and selling pressure by evaluating the position of the close relative to the open against the bar high-low range.
GitHub stars99on the repository
Pine versionv6current
Lines of code44
Settings1inputs
LicenceApache-2.0
Last update4 weeks ago27 Sep 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
44 lines of Pine Script v6 from lib/momentum/bop/bop.pine, published under Apache-2.0. Keep the author's credit and licence lines when you reuse it.
// Licensed under the Apache License, Version 2.0
// © mihakralj
//@version=6
indicator("Balance of Power (BOP)", "BOP", overlay=false)
//@function Calculates Balance of Power with optional smoothing
//@param length Smoothing period (0 for no smoothing)
//@returns BOP value measuring buying/selling pressure
bop(simple int length) =>
if length < 0
runtime.error("Length must be non-negative")
float rawBop = high == low ? 0.0 : (close - open) / (high - low)
if length == 0
rawBop
else
float alpha = 2.0 / (length + 1.0)
var float smoothBop = na
var float e = 1.0
var bool warmupComplete = false
var float result = na
if na(smoothBop)
smoothBop := rawBop, result := rawBop
else
smoothBop := alpha * (rawBop - smoothBop) + smoothBop
if not warmupComplete
e *= (1.0 - alpha)
float c = e > 1e-10 ? 1.0 / (1.0 - e) : 1.0
result := smoothBop * c
if e <= 1e-10
warmupComplete := true
else
result := smoothBop
result
// ---------- Main loop ----------
// Inputs
i_smooth = input.int(14, "Smoothing Length", minval=0, tooltip="0 for no smoothing")
// Calculation
bop_value = bop(i_smooth)
// Plot
plot(bop_value, "BOP", color=color.yellow, linewidth=2)
Overview
Balance of Power (BOP) provides an option to smooth raw values using an exponential moving average with initialization warmup correction. The resulting line is plotted in a separate chart pane. The primary configuration parameter is the smoothing length, which can be set to zero for unsmoothed values.
- Raw balance of power calculation
- Optional exponential smoothing
- Initialization warmup correction
- Configurable smoothing period
Details
Published by
mihakralj on GitHub
Type
Indicator, Pine Script v6
Draws
Separate pane below the chart
Category
Oscillators & momentum
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Topics
algorithmic-tradingcsharpdotnetpinescriptpythonquantitative-financesimdta-libtechnical-analysistechnical-indicators
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Smoothing Length | int | 14 | i_smooth |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
Similar Pine Scripts
This indicator calculates momentum setups based on the Relative Strength Index (RSI) and plots in a separate pane. It offers multiple scanning modes such as Continuous Break, Continuous Retracement, Flip Break, Flip Retracement, and both regular and hidden div
This indicator calculates a modified MACD oscillator and signal line alongside a trend EMA filter, plotting the output as a stylized column histogram in a separate pane. Instead of plotting true MACD distance, it quantifies positive and negative histogram mome
This indicator plots the Average Directional Index in a separate pane and colors the line teal or maroon according to whether plus DI is above minus DI. A horizontal key level and a silver background mark periods when ADX exceeds that threshold. With labels en
This indicator demonstrates an experimental graph-style scatter visualization within a separate pane using Pine Script arrays. It tracks two features across recent bars: the single-bar price change and a scaled 14-period Relative Strength Index. Values are loa
This script calculates and plots a Stochastic Oscillator (KD indicator) in a separate chart pane. It determines the fast stochastic value over a 9-period lookback, then applies a 3-period Simple Moving Average (SMA) to create the %K line, and a second 3-period
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers