How this script is different from currently published ones: This indicator finds confluence between Balance of power(BOP), EMA 10&20, and Volume
How to use it: It's usage is based on the following background colors: If the background color is fuchsia, then BOP, EMA 10 & 20, and volume are all in agreement to sell /short-sell the stock since it's price is high. If the background color is red (may look a bit like a peachy red), then only BOP, EMA 10 & 20 are all in agreement to sell /short-sell the stock since it's price is high. If the background color is lime, then BOP, EMA 10 & 20, and volume are all in agreement to buy / go long on the stock since it's price is low. If the background color is green, then BOP, EMA 10 & 20, and volume are all in agreement to sell / go long the stock since it's price is high.
Which markets it's meant for? Designed for the Stock markets, but can be used in other markets that fluctuate according to price, volume and time. Under which conditions? I got the idea to create it after looking for confluence signals for IINN on October 26th. So it would likely be good under similar conditions where a stock has broken out of a long-term downtrend.