This indicator is my attempt to combine and BMP indicators.
The goal is to provide a more timely entry point. I mixed up Igor Livshin's balance of market power ( BMP ) indicator together with , can be considerably simplified for efficient implementation. If you do the math, you'll find that the raw BMP is actually equivalent to (Close-Open) / ( High-Low ) which can provide instant market judgement. I also filter try to filter out noise by averaging and fast-slow line to capture the shrot term and mid term status. So, it contains two input parameters to be adjusted to find proper values to adapt to different time frame and trading pairs.
Divergence and alerts are availble as well.
FastLength --> BMP fast line length
SlowLength --> BMP slow line length
BMPF --> BMP fast line in yellow color
BMPS --> BMP slow line in fuchsia color
This is a Level 3 free but closed source indicator.
Feedbacks are appreciated.
USDT TRC20: TWVYATJFN7SsbrmH8jLVrWHaV2aNruvvcT
USDT ERC20: 0xfd4d0eb131e81f44530849c1a966cb261dd6bda2
Both whale jump screeners are granted to 10.1