Balance of Power for US30 4H [PineIndicators]

The Balance of Power (BoP) Strategy is a momentum-based trading system for the US30 index on a 4-hour timeframe. It measures the strength of buyers versus sellers in each candle using the Balance of Power (BoP) indicator and executes trades based on predefined threshold crossovers. The strategy includes dynamic position sizing, adjustable leverage, and visual trade tracking.

⚙️ Core Strategy Mechanics

• Positive values indicate buying strength.
  
• Negative values indicate selling strength.
  
• Values close to 1 suggest strong bullish momentum.
  
• Values close to -1 indicate strong bearish pressure.
  

The strategy uses fixed threshold crossovers to determine trade entries and exits.

📌 Trade Logic

Entry Conditions
Long Entry: When BoP crosses above 0.8, signaling strong buying pressure.

Exit Conditions
Position Close: When BoP crosses below -0.8, indicating a shift to selling pressure.

This threshold-based system filters out low-confidence signals and focuses on high-momentum shifts.

📏 Position Sizing & Leverage
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• Leverage: Adjustable by the user (default = 5x).
  
• Risk Management: Position size adapts dynamically based on equity fluctuations.
  

📊 Trade Visualization & History Tracking

Trade Markers:

• "Buy" labels appear when a long position is opened.
  
• "Close" labels appear when a position is exited.
  

Trade History Boxes:

• Green for profitable trades.
  
• Red for losing trades.
  

These elements provide clear visual tracking of past trade execution.

⚡ Usage & Customization

1️⃣ Apply the script to a US30 4H chart in TradingView.
2️⃣ Adjust leverage settings as needed.
3️⃣ Review trade signals and historical performance with visual markers.
4️⃣ Enable backtesting to evaluate past performance.

This strategy is designed for momentum-based trading and is best suited for volatile market conditions.