Internal Bar Strength (IBS)

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ind_internal_bar_strength_ibs

This indicator is determined from the values of the moving average internal bar strength, which are calculated by the formula (Close Price-Low Price) / (High Price - Low Price) * 100%

The recommended period of use is 5 bars. Overbought on the level 60% and oversold levels determined by 40%. These levels are a signal to open the deal to buy or sell.

To learn more about this Indicator and download its source code on MQL4 you can here:

http://codebase.mql4.com/4525

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