Internal Bar Strength (IBS) -
is the indicator developed by Volker Knapp.
Calculation:
It is calculated as the moving average of the values of the internal bars strength that represent the ratio (Close-Low)/(High-Low) * 100% for each of them.
How to use:
The period that is equal to five bars is usually used. The crossing of 60% level means the overbuying and the crossing of 40% level means overselling, and so they are the signals for selling and buying respectively.
Input Parameters:
extern int Per=5;
Internal Bar Strength
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A great indicator that shows bullish and bearish divergence clearly. A great work man! :D
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