Balance of Power Histogram Signals with Configurable Alerts
Summary
This document describes an implementation of a Balance of Power indicator as a color-coded histogram intended to show trend direction and strength. Histogram colors reflect configured overbought and oversold thresholds and changes in direction. The modification adds optional sound alerts, email messages, and mobile notifications when the color index transitions into a designated buy or sell state.
The alert logic checks a selected bar, tracks a notification count, and includes the symbol, chart timeframe, time, and price information in its messages. The article focuses on wiring alerts into an existing indicator’s calculation routine; it does not specify a standalone entry or exit strategy, evaluate signal quality, or provide backtest evidence. Alerts depend on the indicator’s color-buffer states and selected bar, so the document alone does not establish that signals are profitable or robust.
Key ideas
- The Balance of Power indicator is displayed as a colored histogram reflecting configured levels and direction changes.
- Buy and sell notifications are triggered when the color index changes to a specified state.
- Alert settings control sound, email, push notifications, bar selection, and the number of alerts.
- Messages include chart context and price details, but the article provides no evidence of trading performance.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.