Fadior

Internal Bar Strength Indicator

892 4 50
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.
Remove from Favorite Scripts Add to Favorite Scripts
//@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)
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)
Reply
IMO there is a bias in this backtest because markets were bullish 90% of the time since 1990.
Reply
Source for this strategy can be found here : http://systemtradersuccess.com/internal-bar-strength-indicator
Reply
thank you
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out