BOF ( Balance Of Force )
The BOF is a centred overlay indicator based on trading volume.
This is overlays "SRI" on the chart and works with it.
- You can understand the flow of volume, and you can see over-buying and over-selling at a glance.
- For channels, the Bollinger Bands and Keltner Channels and Chandelier Exit Strategy were used in combination.
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◊ Introduction
Introducing VRMI in this script, an RMI based on price movement and volume, to indicate bullish and bearish trends.
This script marks the background depending on RMI <> VRMI , VRMI polarity and large buy/sell sprees.
◊ Origin
Based on 'The Relative Momentum Index' by Roger Altman : February, 1993 issue of Technical Analysis of Stocks &...