Contents

Introduction
Create Manual Indicators
Update Manual Indicators
Create Automatic Indicators
Get Indicator Values
Visualization

Indicator Reference

Balance Of Power

Introduction

This indicator computes the Balance Of Power (BOP). The Balance Of Power is calculated with the following formula: BOP = (Close - Open) / (High - Low)

Create Manual Indicators

You can manually create a BalanceOfPower indicator, so it doesn’t automatically update. Manual indicators let you update their values with any data you choose. The following reference table describes the BalanceOfPower constructor.

BalanceOfPower()1/2

            BalanceOfPower QuantConnect.Indicators.BalanceOfPower (
   )

Initializes a new instance of the BalanceOfPower class using the specified name.

BalanceOfPower()2/2

            BalanceOfPower QuantConnect.Indicators.BalanceOfPower (
     string  name
   )

Initializes a new instance of the BalanceOfPower class using the specified name.

Update Manual Indicators

You can update the indicator automatically or manually.

Automatic Update

To register a manual indicator for automatic updates with the security data, call the RegisterIndicator method.


private BalanceOfPower _bop;

// In Initialize()
_bop = new BalanceOfPower(name);
_bop.Updated += IndicatorUpdateMethod;

RegisterIndicator(symbol, _bop, Resolution.Daily);

// In IndicatorUpdateMethod()
if (_bop.IsReady)
{
    var indicatorValue = _bop.Current.Value;
}
    
# In Initialize()
self.bop = BalanceOfPower(name)
self.bop.Updated += self.IndicatorUpdateMethod

self.RegisterIndicator(symbol, self.bop, Resolution.Daily)

# In IndicatorUpdateMethod()
if self.bop.IsReady:
    indicator_value = self.bop.Current.Value

To customize the data that automatically updates the indicator, see Custom Indicator Periods and Custom Indicator Values.

Manual Update

Updating your indicator manually enables you to control when the indicator is updated and what data you use to update it. To manually update the indicator, call the Update method with a TradeBar, QuoteBar, or an IndicatorDataPoint. The indicator will only be ready after you prime it with enough data.

    
private BalanceOfPower _bop;
private Symbol symbol;

// In Initialize()
_bop = new BalanceOfPower();
symbol = AddEquity("SPY").Symbol;

// In OnData()
if (data.QuoteBars.ContainsKey(_symbol))
{
    _bop.Update(data.QuoteBars[symbol]);
}
if (_bop.IsReady)
{
    var indicatorValue = _bop.Current.Value;
}
    
# In Initialize()
self.bop = BalanceOfPower()
self.symbol = self.AddEquity("SPY").Symbol

# In OnData()
if data.QuoteBars.ContainsKey(self.symbol):
    self.bop.Update(data.QuoteBars[self.symbol])
if self.bop.IsReady:
    indicator_value = self.bop.Current.Value

Create Automatic Indicators

The BOP method creates an BalanceOfPower indicator, sets up a consolidator to update the indicator, and then returns the indicator so you can use it in your algorithm.

The following reference table describes the BOP method:

BOP()1/1

            BalanceOfPower QuantConnect.Algorithm.QCAlgorithm.BOP (
    Symbol                                symbol,
    *Nullable<Resolution>           resolution,
    *Func<IBaseData, IBaseDataBar>  selector
   )

Creates a new Balance Of Power indicator. The indicator will be automatically updated on the given resolution.


If you don't provide a resolution, it defauls to the security resolution. If you provide a resolution, it must be greater than or equal to the resolution of the security. For instance, if you subscribe to hourly data for a security, you should update its indicator with data that spans 1 hour or longer.

For more information about the selector argument, see Alternative Price Fields.

Get Indicator Values

To get the value of the indicator, use its Current.Value attribute.

private BalanceOfPower _bop;

// In Initialize()
var symbol = AddEquity("SPY").Symbol;
_bop = BOP(symbol);

// In OnData()
if (_bop.IsReady)
{
    var current = _bop.Current.Value;
}
# In Initialize()
symbol = self.AddEquity("SPY").Symbol
self.bop = self.BOP(symbol)

# In OnData()
if self.bop.IsReady:
    current = self.bop.Current.Value

Visualization

To plot indicator values, in the OnData event handler, call the Plot method.

private BalanceOfPower _bop;

// In Initialize()
var symbol = AddEquity("SPY").Symbol;
_bop = BOP(symbol);

// In OnData()
if (_bop.IsReady)
{
    Plot("My Indicators", "balanceofpower", _bop.Current);
}
# In Initialize()
symbol = self.AddEquity("SPY").Symbol
self.bop = self.BOP(symbol)

# In OnData()
if self.bop.IsReady:
    self.Plot("My Indicators", "balanceofpower", self.bop.Current)

For more information about plotting indicators, see Plotting Indicators.

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