In this guide, we’ll explore the Balance of Power Indicator Amibroker AFL Code, a handy tool for stock market enthusiasts. This code is free to download and can be seamlessly integrated into Amibroker.

### Getting to Know the Balance of Power Indicator

The Balance of Power is an insightful technical indicator that helps you gauge who’s ruling the market – buyers or sellers. It does this by measuring the buying strength in uptrends and the selling force in downtrends. Here’s the simple formula it uses: `BOP = (Close - Open) / (High - Low)` The BOP indicator produces values between -1 and 1. Positive values suggest buyers are dominating, while negative values hint that sellers have the upper hand. Also Read: Weekly Breakout Trading Strategy Amibroker AFL Code

### The Balance of Power Indicator AFL

```				```
//------------------------------------------------------
//
//  Formula Name:    Balance of Power Indicator
//  Website:         https://zerobrokerageclub.com/
//------------------------------------------------------

_SECTION_BEGIN("Balance of Power Indicator");

SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} – {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));

Plot( Close, "Price", colorWhite, styleCandle );

// Calculation of Balance of Power Indicator
BOP = (C - O) / (H - L);

// Plotting the Indicator
Plot(BOP, "Balance of Power", colorBlue, styleHistogram|styleOwnScale );

_SECTION_END();
```
```

### See the BoP Indicator in Action

Here’s what the BoP Indicator looks like in Amibroker:

### Understanding the AFL Code

• The code kicks off with the BOP calculation formula: `(Close - Open) / (High - Low)`.
• It begins by figuring out the BOP indicator using this formula. `BOP` is stored as a variable, with `C` and `O` representing the current closing and opening prices, and `H` and `L` denoting the high and low prices of the current bar.
• The `Plot()` function brings the BOP indicator to life on your screen as a histogram. The parameters include the BOP data, the plot name (“Balance of Power”), a blue color scheme, and the histogram style.

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