com.webcab.ejb.finance.trading.indicators
Interface MarketStrengthLocal

All Superinterfaces:

EJBLocalObject

public interface MarketStrengthLocal

extends EJBLocalObject

Local interface of MarketStrength. This interface provides the same functionality as the MarketStrength remote interface.

See Also:

MarketStrength

Method Summary

double

balanceOfPower(double opening, double closing, double high, double low) Method balanceOfPower(double, double, double, double) as defined in the MarketStrength remote interface.

Methods inherited from interface javax.ejb.EJBLocalObject

getEJBLocalHome, getPrimaryKey, isIdentical, remove

Method Detail

balanceOfPower

public double balanceOfPower(double opening,
                             double closing,
                             double high,
                             double low)

Method balanceOfPower(double, double, double, double) as defined in the MarketStrength remote interface.

Description copied from the MarketStrength interface:

Implements the Balance of Power (BOP) indicator, created by Igor Livshin; which captures the struggle between the Bulls and Bears throughout a trading day.

Interpretation
When the BOP indicator is towards the high if its range it will signifies that the Bulls are in control, conversely when the indicator is towards the lows of its range it signifies that the bear are in control. If the indicator move from a high positive range to a lower positive range it signifies that the buying pressure is decreasing. Conversely, if the indicator move from a low negative range to a higher negative range it signifies that the selling pressure is decreasing.

Evaluation
The BOP indicator is evaluated by the following formulae:

BOP = (Close - Open)/(High - Low)

where close is the days closing price, open is the days opening price, high is the highest traded price during the day and low is the lowest traded price during the day.

Parameters:

opening - the opening price of the asset on the trading day under consideration

closing - the closing price of the asset on the trading day under consideration

high - the traded high of the asset on the trading day under consideration

low - the traded low of the asset on the trading day under consideration

See Also:

MarketStrength.balanceOfPower(double, double, double, double)