diff --git a/release/scripts/startup/bl_ui/space_sequencer.py b/release/scripts/startup/bl_ui/space_sequencer.py
index 7b102604587..455f5e2d841 100644
--- a/release/scripts/startup/bl_ui/space_sequencer.py
+++ b/release/scripts/startup/bl_ui/space_sequencer.py
@@ -46,44 +46,85 @@ def selected_sequences_len(context):
 
 def draw_color_balance(layout, color_balance):
 
+    layout.prop(color_balance, "correction_method")
+
     layout.use_property_split = False
 
     flow = layout.grid_flow(row_major=True, columns=0, even_columns=True, even_rows=False, align=False)
-    col = flow.column()
 
-    box = col.box()
-    split = box.split(factor=0.35)
-    col = split.column(align=True)
-    col.label(text="Lift:")
-    col.separator()
-    col.separator()
-    col.prop(color_balance, "lift", text="")
-    col.prop(color_balance, "invert_lift", text="Invert", icon='ARROW_LEFTRIGHT')
-    split.template_color_picker(color_balance, "lift", value_slider=True, cubic=True)
+    if color_balance.correction_method == 'LIFT_GAMMA_GAIN':
+        col = flow.column()
 
-    col = flow.column()
+        box = col.box()
+        split = box.split(factor=0.35)
+        col = split.column(align=True)
+        col.label(text="Lift:")
+        col.separator()
+        col.separator()
+        col.prop(color_balance, "lift", text="")
+        col.prop(color_balance, "invert_lift", text="Invert", icon='ARROW_LEFTRIGHT')
+        split.template_color_picker(color_balance, "lift", value_slider=True, cubic=True)
 
-    box = col.box()
-    split = box.split(factor=0.35)
-    col = split.column(align=True)
-    col.label(text="Gamma:")
-    col.separator()
-    col.separator()
-    col.prop(color_balance, "gamma", text="")
-    col.prop(color_balance, "invert_gamma", text="Invert", icon='ARROW_LEFTRIGHT')
-    split.template_color_picker(color_balance, "gamma", value_slider=True, lock_luminosity=True, cubic=True)
+        col = flow.column()
 
-    col = flow.column()
+        box = col.box()
+        split = box.split(factor=0.35)
+        col = split.column(align=True)
+        col.label(text="Gamma:")
+        col.separator()
+        col.separator()
+        col.prop(color_balance, "gamma", text="")
+        col.prop(color_balance, "invert_gamma", text="Invert", icon='ARROW_LEFTRIGHT')
+        split.template_color_picker(color_balance, "gamma", value_slider=True, lock_luminosity=True, cubic=True)
 
-    box = col.box()
-    split = box.split(factor=0.35)
-    col = split.column(align=True)
-    col.label(text="Gain:")
-    col.separator()
-    col.separator()
-    col.prop(color_balance, "gain", text="")
-    col.prop(color_balance, "invert_gain", text="Invert", icon='ARROW_LEFTRIGHT')
-    split.template_color_picker(color_balance, "gain", value_slider=True, lock_luminosity=True, cubic=True)
+        col = flow.column()
+
+        box = col.box()
+        split = box.split(factor=0.35)
+        col = split.column(align=True)
+        col.label(text="Gain:")
+        col.separator()
+        col.separator()
+        col.prop(color_balance, "gain", text="")
+        col.prop(color_balance, "invert_gain", text="Invert", icon='ARROW_LEFTRIGHT')
+        split.template_color_picker(color_balance, "gain", value_slider=True, lock_luminosity=True, cubic=True)
+
+    elif color_balance.correction_method == 'OFFSET_POWER_SLOPE':
+        col = flow.column()
+
+        box = col.box()
+        split = box.split(factor=0.35)
+        col = split.column(align=True)
+        col.label(text="Offset:")
+        col.separator()
+        col.separator()
+        col.prop(color_balance, "offset", text="")
+        col.prop(color_balance, "invert_offset", text="Invert", icon='ARROW_LEFTRIGHT')
+        split.template_color_picker(color_balance, "offset", value_slider=True, cubic=True)
+
+        col = flow.column()
+
+        box = col.box()
+        split = box.split(factor=0.35)
+        col = split.column(align=True)
+        col.label(text="Power:")
+        col.separator()
+        col.separator()
+        col.prop(color_balance, "power", text="")
+        col.prop(color_balance, "invert_power", text="Invert", icon='ARROW_LEFTRIGHT')
+        split.template_color_picker(color_balance, "power", value_slider=True, cubic=True)
+
+        col = flow.column()
+
+        box = col.box()
+        split = box.split(factor=0.35)
+        col = split.column(align=True)
+        col.label(text="Slope:")
+        col.separator()
+        col.separator()
+        col.prop(color_balance, "slope", text="")
+        col.prop(color_balance, "invert_slope", text="Invert", icon='ARROW_LEFTRIGHT')
+        split.template_color_picker(color_balance, "slope", value_slider=True, cubic=True)
 
 
 class SEQUENCER_PT_active_tool(ToolActivePanelHelper, Panel):
diff --git a/source/blender/makesdna/DNA_sequence_types.h b/source/blender/makesdna/DNA_sequence_types.h
index 13bfa82b36d..a71f86eae9f 100644
--- a/source/blender/makesdna/DNA_sequence_types.h
+++ b/source/blender/makesdna/DNA_sequence_types.h
@@ -79,9 +79,13 @@ typedef struct StripTransform {
 } StripTransform;
 
 typedef struct StripColorBalance {
+  int method;
   float lift[3];
   float gamma[3];
   float gain[3];
+  float slope[3];
+  float offset[3];
+  float power[3];
   int flag;
   char _pad[4];
   /* float exposure; */
@@ -434,6 +438,11 @@ typedef struct ColorBalanceModifierData {
   float color_multiply;
 } ColorBalanceModifierData;
 
+enum {
+  SEQ_COLOR_BALANCE_METHOD_LIFTGAMMAGAIN = 0,
+  SEQ_COLOR_BALANCE_METHOD_SLOPEOFFSETPOWER = 1,
+};
+
 typedef struct CurvesModifierData {
   SequenceModifierData modifier;
 
@@ -571,6 +580,9 @@ enum {
 #define SEQ_COLOR_BALANCE_INVERSE_GAIN 1
 #define SEQ_COLOR_BALANCE_INVERSE_GAMMA 2
 #define SEQ_COLOR_BALANCE_INVERSE_LIFT 4
+#define SEQ_COLOR_BALANCE_INVERSE_SLOPE 8
+#define SEQ_COLOR_BALANCE_INVERSE_OFFSET 16
+#define SEQ_COLOR_BALANCE_INVERSE_POWER 32
 
 /* !!! has to be same as IMB_imbuf.h IMB_PROXY_... and IMB_TC_... */
 
diff --git a/source/blender/makesrna/intern/rna_sequencer.c b/source/blender/makesrna/intern/rna_sequencer.c
index 7303f6c920a..e519740259c 100644
--- a/source/blender/makesrna/intern/rna_sequencer.c
+++ b/source/blender/makesrna/intern/rna_sequencer.c
@@ -1591,12 +1591,28 @@ static void rna_def_color_balance(BlenderRNA *brna)
   StructRNA *srna;
   PropertyRNA *prop;
 
+  static const EnumPropertyItem method_items[] = {
+      {SEQ_COLOR_BALANCE_METHOD_LIFTGAMMAGAIN, "LIFT_GAMMA_GAIN", 0, "Lift/Gamma/Gain", ""},
+      {SEQ_COLOR_BALANCE_METHOD_SLOPEOFFSETPOWER,
+       "OFFSET_POWER_SLOPE",
+       0,
+       "Offset/Power/Slope (ASC-CDL)",
+       "ASC-CDL standard color correction"},
+      {0, NULL, 0, NULL, NULL},
+  };
+
   srna = RNA_def_struct(brna, "SequenceColorBalanceData", NULL);
   RNA_def_struct_ui_text(srna,
                          "Sequence Color Balance Data",
                          "Color balance parameters for a sequence strip and its modifiers");
   RNA_def_struct_sdna(srna, "StripColorBalance");
 
+  prop = RNA_def_property(srna, "correction_method", PROP_ENUM, PROP_NONE);
+  RNA_def_property_enum_sdna(prop, NULL, "method");
+  RNA_def_property_enum_items(prop, method_items);
+  RNA_def_property_ui_text(prop, "Correction Method", "");
+  RNA_def_property_update(prop, NC_SCENE | ND_SEQUENCER, "rna_SequenceColorBalance_update");
+
   prop = RNA_def_property(srna, "lift", PROP_FLOAT, PROP_COLOR_GAMMA);
   RNA_def_property_ui_text(prop, "Lift", "Color balance lift (shadows)");
   RNA_def_property_ui_range(prop, 0, 2, 0.1, 3);
@@ -1615,9 +1631,27 @@ static void rna_def_color_balance(BlenderRNA *brna)
   RNA_def_property_float_default(prop, 1.0f);
   RNA_def_property_update(prop, NC_SCENE | ND_SEQUENCER, "rna_SequenceColorBalance_update");
 
-  prop = RNA_def_property(srna, "invert_gain", PROP_BOOLEAN, PROP_NONE);
-  RNA_def_property_boolean_sdna(prop, NULL, "flag", SEQ_COLOR_BALANCE_INVERSE_GAIN);
-  RNA_def_property_ui_text(prop, "Inverse Gain", "Invert the gain color`");
+  prop = RNA_def_property(srna, "slope", PROP_FLOAT, PROP_COLOR_GAMMA);
+  RNA_def_property_ui_text(prop, "Slope", "Correction for highlights");
+  RNA_def_property_ui_range(prop, 0, 2, 0.1, 3);
+  RNA_def_property_float_default(prop, 1.0f);
+  RNA_def_property_update(prop, NC_SCENE | ND_SEQUENCER, "rna_SequenceColorBalance_update");
+
+  prop = RNA_def_property(srna, "offset", PROP_FLOAT, PROP_COLOR_GAMMA);
+  RNA_def_property_ui_text(prop, "Offset", "Correction for entire tonal range");
+  RNA_def_property_ui_range(prop, 0, 2, 0.1, 3);
+  RNA_def_property_float_default(prop, 1.0f);
+  RNA_def_property_update(prop, NC_SCENE | ND_SEQUENCER, "rna_SequenceColorBalance_update");
+
+  prop = RNA_def_property(srna, "power", PROP_FLOAT, PROP_COLOR_GAMMA);
+  RNA_def_property_ui_text(prop, "Power", "Correction for midtones");
+  RNA_def_property_ui_range(prop, 0, 2, 0.1, 3);
+  RNA_def_property_float_default(prop, 1.0f);
+  RNA_def_property_update(prop, NC_SCENE | ND_SEQUENCER, "rna_SequenceColorBalance_update");
+
+  prop = RNA_def_property(srna, "invert_lift", PROP_BOOLEAN, PROP_NONE);
+  RNA_def_property_boolean_sdna(prop, NULL, "flag", SEQ_COLOR_BALANCE_INVERSE_LIFT);
+  RNA_def_property_ui_text(prop, "Inverse Lift", "Invert the lift color");
   RNA_def_property_update(prop, NC_SCENE | ND_SEQUENCER, "rna_SequenceColorBalance_update");
 
   prop = RNA_def_property(srna, "invert_gamma", PROP_BOOLEAN, PROP_NONE);
@@ -1625,9 +1659,24 @@ static void rna_def_color_balance(BlenderRNA *brna)
   RNA_def_property_ui_text(prop, "Inverse Gamma", "Invert the gamma color");
   RNA_def_property_update(prop, NC_SCENE | ND_SEQUENCER, "rna_SequenceColorBalance_update");
 
-  prop = RNA_def_property(srna, "invert_lift", PROP_BOOLEAN, PROP_NONE);
-  RNA_def_property_boolean_sdna(prop, NULL, "flag", SEQ_COLOR_BALANCE_INVERSE_LIFT);
-  RNA_def_property_ui_text(prop, "Inverse Lift", "Invert the lift color");
+  prop = RNA_def_property(srna, "invert_gain", PROP_BOOLEAN, PROP_NONE);
+  RNA_def_property_boolean_sdna(prop, NULL, "flag", SEQ_COLOR_BALANCE_INVERSE_GAIN);
+  RNA_def_property_ui_text(prop, "Inverse Gain", "Invert the gain color`");
+  RNA_def_property_update(prop, NC_SCENE | ND_SEQUENCER, "rna_SequenceColorBalance_update");
+
+  prop = RNA_def_property(srna, "invert_slope", PROP_BOOLEAN, PROP_NONE);
+  RNA_def_property_boolean_sdna(prop, NULL, "flag", SEQ_COLOR_BALANCE_INVERSE_SLOPE);
+  RNA_def_property_ui_text(prop, "Inverse Slope", "Invert the slope color`");
+  RNA_def_property_update(prop, NC_SCENE | ND_SEQUENCER, "rna_SequenceColorBalance_update");
+
+  prop = RNA_def_property(srna, "invert_offset", PROP_BOOLEAN, PROP_NONE);
+  RNA_def_property_boolean_sdna(prop, NULL, "flag", SEQ_COLOR_BALANCE_INVERSE_OFFSET);
+  RNA_def_property_ui_text(prop, "Inverse Offset", "Invert the offset color");
+  RNA_def_property_update(prop, NC_SCENE | ND_SEQUENCER, "rna_SequenceColorBalance_update");
+
+  prop = RNA_def_property(srna, "invert_power", PROP_BOOLEAN, PROP_NONE);
+  RNA_def_property_boolean_sdna(prop, NULL, "flag", SEQ_COLOR_BALANCE_INVERSE_POWER);
+  RNA_def_property_ui_text(prop, "Inverse Power", "Invert the power color");
   RNA_def_property_update(prop, NC_SCENE | ND_SEQUENCER, "rna_SequenceColorBalance_update");
 
   /* not yet used */
diff --git a/source/blender/sequencer/intern/modifier.c b/source/blender/sequencer/intern/modifier.c
index 07d09f4ae17..8414599b225 100644
--- a/source/blender/sequencer/intern/modifier.c
+++ b/source/blender/sequencer/intern/modifier.c
@@ -216,7 +216,7 @@ static void modifier_apply_threaded(ImBuf *ibuf,
 /** \name Color Balance Modifier
  * \{ */
 
-static StripColorBalance calc_cb(StripColorBalance *cb_)
+static StripColorBalance calc_cb_lgg(StripColorBalance *cb_)
 {
   StripColorBalance cb = *cb_;
   int c;
@@ -262,8 +262,53 @@ static StripColorBalance calc_cb(StripColorBalance *cb_)
   return cb;
 }
 
+static StripColorBalance calc_cb_sop(StripColorBalance *cb_)
+{
+  StripColorBalance cb = *cb_;
+  int c;
+
+  for (c = 0; c < 3; c++) {
+    if (cb.flag & SEQ_COLOR_BALANCE_INVERSE_SLOPE) {
+      if (cb.slope[c] != 0.0f) {
+        cb.slope[c] = 1.0f / cb.slope[c];
+      }
+      else {
+        cb.slope[c] = 1000000;
+      }
+    }
+
+    if (cb.flag & SEQ_COLOR_BALANCE_INVERSE_OFFSET) {
+      cb.offset[c] = -1.0f * (cb.offset[c] - 1.0f);
+    }
+    else {
+      cb.offset[c] = cb.offset[c] - 1.0f;
+    }
+
+    if (!(cb.flag & SEQ_COLOR_BALANCE_INVERSE_POWER)) {
+      if (cb.power[c] != 0.0f) {
+        cb.power[c] = 1.0f / cb.power[c];
+      }
+      else {
+        cb.power[c] = 1000000;
+      }
+    }
+  }
+
+  return cb;
+}
+
+static StripColorBalance calc_cb(StripColorBalance *cb_)
+{
+  if (cb_->method == SEQ_COLOR_BALANCE_METHOD_LIFTGAMMAGAIN) {
+    return calc_cb_lgg(cb_);
+  }
+  else { /* cb_->method == SEQ_COLOR_BALANCE_METHOD_SLOPEOFFSETPOWER */
+    return calc_cb_sop(cb_);
+  }
+}
+
 /* NOTE: lift is actually 2-lift. */
-MINLINE float color_balance_fl(
+MINLINE float color_balance_fl_lgg(
     float in, const float lift, const float gain, const float gamma, const float mul)
 {
   float x = (((in - 1.0f) * lift) + 1.0f) * gain;
@@ -278,12 +323,40 @@ MINLINE float color_balance_fl(
   return x;
 }
 
-static void make_cb_table_float(float lift, float gain, float gamma, float *table, float mul)
+MINLINE float color_balance_fl_sop(float in,
+                                   const float slope,
+                                   const float offset,
+                                   const float power,
+                                   const float pivot,
+                                   float mul)
 {
-  int y;
+  float x = in * slope + offset;
 
-  for (y = 0; y < 256; y++) {
-    float v = color_balance_fl((float)y * (1.0f / 255.0f), lift, gain, gamma, mul);
+  /* prevent NaN */
+  if (x < 0.0f) {
+    x = 0.0f;
+  }
+
+  x = powf(x / pivot, power) * pivot;
+  x *= mul;
+  CLAMP(x, FLT_MIN, FLT_MAX);
+  return x;
+}
+
+static void make_cb_table_float_lgg(float lift, float gain, float gamma, float *table, float mul)
+{
+  for (int y = 0; y < 256; y++) {
+    float v = color_balance_fl_lgg((float)y * (1.0f / 255.0f), lift, gain, gamma, mul);
+
+    table[y] = v;
+  }
+}
+
+static void make_cb_table_float_sop(
+    float slope, float offset, float power, float pivot, float *table, float mul)
+{
+  for (int y = 0; y < 256; y++) {
+    float v = color_balance_fl_sop((float)y * (1.0f / 255.0f), slope, offset, power, pivot, mul);
 
     table[y] = v;
   }
@@ -310,7 +383,13 @@ static void color_balance_byte_byte(StripColorBalance *cb_,
     straight_uchar_to_premul_float(p, cp);
 
     for (c = 0; c < 3; c++) {
-      float t = color_balance_fl(p[c], cb.lift[c], cb.gain[c], cb.gamma[c], mul);
+      float t;
+      if (cb.method == SEQ_COLOR_BALANCE_METHOD_LIFTGAMMAGAIN) {
+        t = color_balance_fl_lgg(p[c], cb.lift[c], cb.gain[c], cb.gamma[c], mul);
+      }
+      else {
+        t = color_balance_fl_sop(p[c], cb.slope[c], cb.offset[c], cb.power[c], 1.0, mul);
+      }
 
       if (m) {
         float m_normal = (float)m[c] / 255.0f;
@@ -352,7 +431,12 @@ static void color_balance_byte_float(StripColorBalance *cb_,
   cb = calc_cb(cb_);
 
   for (c = 0; c < 3; c++) {
-    make_cb_table_float(cb.lift[c], cb.gain[c], cb.gamma[c], cb_tab[c], mul);
+    if (cb.method == SEQ_COLOR_BALANCE_METHOD_LIFTGAMMAGAIN) {
+      make_cb_table_float_lgg(cb.lift[c], cb.gain[c], cb.gamma[c], cb_tab[c], mul);
+    }
+    else {
+      make_cb_table_float_sop(cb.slope[c], cb.offset[c], cb.power[c], 1.0, cb_tab[c], mul);
+    }
   }
 
   for (i = 0; i < 256; i++) {
@@ -397,7 +481,13 @@ static void color_balance_float_float(StripColorBalance *cb_,
   while (p < e) {
     int c;
     for (c = 0; c < 3; c++) {
-      float t = color_balance_fl(p[c], cb.lift[c], cb.gain[c], cb.gamma[c], mul);
+      float t;
+      if (cb_->method == SEQ_COLOR_BALANCE_METHOD_LIFTGAMMAGAIN) {
+        t = color_balance_fl_lgg(p[c], cb.lift[c], cb.gain[c], cb.gamma[c], mul);
+      }
+      else {
+        t = color_balance_fl_sop(p[c], cb.slope[c], cb.offset[c], cb.power[c], 1.0, mul);
+      }
 
       if (m) {
         p[c] = p[c] * (1.0f - m[c]) + t * m[c];
@@ -507,11 +597,15 @@ static void colorBalance_init_data(SequenceModifierData *smd)
   int c;
 
   cbmd->color_multiply = 1.0f;
+  cbmd->color_balance.method = 0;
 
   for (c = 0; c < 3; c++) {
     cbmd->color_balance.lift[c] = 1.0f;
     cbmd->color_balance.gamma[c] = 1.0f;
     cbmd->color_balance.gain[c] = 1.0f;
+    cbmd->color_balance.slope[c] = 1.0f;
+    cbmd->color_balance.offset[c] = 1.0f;
+    cbmd->color_balance.power[c] = 1.0f;
   }
 }