Here are 2 charts using the Balance of Power indicator





using this indicator without some type of trend filter is not recommended for trading

Pds1:=Input("BOP Length",1,200,5);
Pds2:=Input("Sig Length",1,200,7);
rev:=Input("Reverse trade signals? [1]Yes [0]No",0,1,0);
THL:=If(H-L=0,.00001,H-L);
{Balance of Power}
A:=(((H-O)/(THL))+((C-L)/(THL))+(If(C>O,(C-O)/(THL),0)))/3 ;
B:=(((O-L)/(THL))+((H-C)/(THL))+(If(C>O,0,(O-C)/(THL))))/3 ;
{Indicator:=A-B}
{Smoothed Indicator and Signal}
Sig1:=Mov(Mov(Mov(A-B,Pds1,S),2,S),2,S);
Sig2:=Mov(Sig1,Pds2,S);

{Signals}
entry:=Cross(Sig1,Sig2) ;
exit:=Cross(Sig2,Sig1);

That VSTpro market filter makes a big difference to the results... Can you please suggest a good trend filter to use with the free VST?