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.
MT4 Indicator Download – Instructions
Internal Bar Strength (IBS) is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Internal Bar Strength (IBS) provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Internal Bar Strength (IBS).mq4?
- Download Internal Bar Strength (IBS).mq4
- Copy Internal Bar Strength (IBS).mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Internal Bar Strength (IBS).mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Internal Bar Strength (IBS).mq4 is available on your Chart
How to remove Internal Bar Strength (IBS).mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
MT4 Indicators Download below: