Supported Indicators
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)
To view the implementation of this indicator, see the LEAN GitHub repository.
Using BOP Indicator
To create an automatic indicators for BalanceOfPower
, call the BOP
helper method from the QCAlgorithm
class. The BOP
method creates a BalanceOfPower
object, hooks it up for automatic updates, and returns it so you can used it in your algorithm. In most cases, you should call the helper method in the Initialize
method.
public class BalanceOfPowerAlgorithm : QCAlgorithm { private Symbol _symbol; private BalanceOfPower _bop; public override void Initialize() { _symbol = AddEquity("SPY", Resolution.Daily).Symbol; _bop = BOP(_symbol); } public override void OnData(Slice data) { if (_bop.IsReady) { // The current value of _bop is represented by itself (_bop) // or _bop.Current.Value Plot("BalanceOfPower", "bop", _bop); } } }
class BalanceOfPowerAlgorithm(QCAlgorithm): def Initialize(self) -> None: self.symbol = self.AddEquity("SPY", Resolution.Daily).Symbol self.bop = self.BOP(self.symbol) def OnData(self, slice: Slice) -> None: if self.bop.IsReady: # The current value of self.bop is represented by self.bop.Current.Value self.Plot("BalanceOfPower", "bop", self.bop.Current.Value)
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 defaults 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.
For more information about plotting indicators, see Plotting 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.
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
, or QuoteBar
. The indicator will only be ready after you prime it with enough data.
public class BalanceOfPowerAlgorithm : QCAlgorithm { private Symbol _symbol; private BalanceOfPower _bop; public override void Initialize() { _symbol = AddEquity("SPY", Resolution.Daily).Symbol; _bop = new BalanceOfPower(); } public override void OnData(Slice data) { if (data.Bars.TryGeValue(_symbol, out var bar)) { _bop.Update(bar); } if (_bop.IsReady) { // The current value of _bop is represented by itself (_bop) // or _bop.Current.Value Plot("BalanceOfPower", "bop", _bop); } } }
class BalanceOfPowerAlgorithm(QCAlgorithm): def Initialize(self) -> None: self.symbol = self.AddEquity("SPY", Resolution.Daily).Symbol self.bop = BalanceOfPower() def OnData(self, slice: Slice) -> None: bar = slice.Bars.get(self.symbol) if bar: self.bop.Update(bar) if self.bop.IsReady: # The current value of self.bop is represented by self.bop.Current.Value self.Plot("BalanceOfPower", "bop", self.bop.Current.Value)
To register a manual indicator for automatic updates with the security data, call the RegisterIndicator
method.
public class BalanceOfPowerAlgorithm : QCAlgorithm { private Symbol _symbol; private BalanceOfPower _bop; public override void Initialize() { _symbol = AddEquity("SPY", Resolution.Daily).Symbol; _bop = new BalanceOfPower(); RegisterIndicator(_symbol, _bop, Resolution.Daily); } public override void OnData(Slice data) { if (_bop.IsReady) { // The current value of _bop is represented by itself (_bop) // or _bop.Current.Value Plot("BalanceOfPower", "bop", _bop); } } }
class BalanceOfPowerAlgorithm(QCAlgorithm): def Initialize(self) -> None: self.symbol = self.AddEquity("SPY", Resolution.Daily).Symbol self.bop = BalanceOfPower() self.RegisterIndicator(self.symbol, self.bop, Resolution.Daily) def OnData(self, slice: Slice) -> None: if self.bop.IsReady: # The current value of self.bop is represented by self.bop.Current.Value self.Plot("BalanceOfPower", "bop", self.bop.Current.Value)
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.
Visualization
The following image shows plot values of selected properties of BalanceOfPower
using the plotly library.
