Balance of Power
MomentumOwn panel belowWho won inside a single bar, buyers or sellers, on a −1 to +1 scale.
What it looks like
Drawn by running the real calculation over one sample series. Open a symbol and it is recalculated on that symbol's bars.
How to read it
Close minus open, divided by high minus low. Near +1 means the bar finished at the top of its range.
Where it misleads
It is a per-bar value and very jumpy — most people smooth it.
Default settings
You can change these on the chart. These are the values it starts with.
In SQMATE
One tap to add
Open a symbol, tap the name in the indicator list and it is drawn straight away. You can stack several copies of the same indicator with different settings.
Recalculated per timeframe
Switch between minute, hourly, daily, weekly or monthly bars and it is recalculated on that timeframe. The maths runs over every bar loaded, so zooming never moves the line.
Use it as a search condition
Some indicators can also be used as an axis when searching for symbols — for example, keeping only symbols above a given reading, scanned every night.
Related indicators
- Connors RSIRSI combined with a run-of-up-days count and how unusual today's change is.
- Stochastic Momentum IndexA stochastic measured from the middle of the recent range instead of the low.
- SMI Ergodic IndicatorA smoothed momentum line whose arithmetic is essentially TSI.
- SMI Ergodic OscillatorThe gap between the SMI Ergodic Indicator and its signal line, drawn as bars.
- Elder Ray (Bull/Bear Power)How far the bar's high and low reached away from a moving average, measured separately.
- Bull Bear PowerBull and bear power added into a single line.
Every indicator is an observation computed from past bars. It does not tell you future prices and it is not investment advice.