Fadior

Internal Bar Strength Indicator

620 4 31
The internal bar strength or (IBS) is an oscillating indicator which measures the relative position of the close price with respect to the low to high range for the same period.
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//@version=2
strategy("IBS", initial_capital=10000, overlay=false, pyramiding=5)

strategy.risk.allow_entry_in(strategy.direction.long)


src = close
ibs = (close - low) / (high - low) * 100

longCondition = ibs < 17
if (longCondition)
    strategy.entry("My Long Entry Id", strategy.long)

shortCondition = close > high[1]
if (shortCondition)
    strategy.entry("My Short Entry Id", strategy.short)
zaq45622
8 months ago
thank you
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Fadior
8 months ago
Source for this strategy can be found here : http://systemtradersuccess.com/internal-bar-strength-indicator
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Fadior
8 months ago
IMO there is a bias in this backtest because markets were bullish 90% of the time since 1990.
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Fadior
8 months ago
As said by Llewelyn at systemtradersuccess.com, 2002 and 2008 are 2 of the 3 best performing years. Bull market bias must be reconsidered. Works great with VIX (daily) and some currencies pairs (hourly)
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