Point of Balance Oscillator

Function Name: FearPobcOsc
Inputs:
Price(Numeric),
Length(Numeric),
Level(Numeric);

Vars:
AvgAvgs(0),
HiPrice(0),
LoPrice(0),
AvgVal(0);

Array: MPAvg[10](0);
AvgAvgs = 0;
MPAvg[1] = MidPoint(Price,Length);
MPAvg[2] = MidPoint(MPAvg[1],Length);
MPAvg[3] = MidPoint(MPAvg[2],Length);
MPAvg[4] = MidPoint(MPAvg[3],Length);
MPAvg[5] = MidPoint(MPAvg[4],Length);
MPAvg[6] = MidPoint(MPAvg[5],Length);
MPAvg[7] = MidPoint(MPAvg[6],Length);
MPAvg[8] = MidPoint(MPAvg[7],Length);
MPAvg[9] = MidPoint(MPAvg[8],Length);
MPAvg[10] = MidPoint(MPAvg[9],Length);
HiPrice = Highest(Price,Level);
LoPrice = Lowest(Price,Level);
For value1 = 1 to Level begin AvgAvgs = AvgAvgs + MPAvg[value1];
End;
AvgVal = AvgAvgs/Level;
IF HiPrice - LoPrice <> 0 Then FearPobcOsc = 100*((Close - AvgVal) /
(HiPrice - LoPrice));





Indicator Name: Point of Balance Close
Inputs:
Price(close),
Len(12),
Level(10);

Vars: PosNeg(0);

If CurrentBar > Len*Level Then
Begin PosNeg = FearPobcOsc(Price,Len,Level);

If PosNeg > 0 Then Plot1(PosNeg,"FearOsc")Else Plot2(PosNeg,"FearOsc");

End;