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Indicators

Internal_Strength - indicator for MetaTrader 5

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498
Rating:
votes: 6
Published:
2018.10.25 18:17

Internal Strength oscillator. The indicator specifies the point of a daily range the price is located in.

It has four inputs:

  • Calculating mode - calculation method
    • HLC - by High, Low and Close prices
    • RSI - RSI based on HLC
  • RSI period - RSI calculation period
  • Overbought - overbought level
  • Oversold - oversold level

Calculation:

  • If Calculation mode = HLC

    Internal Strength = Data
  • Если Calculation mode = RSI

    Internal Strength = RSI(Data,RSI period)

where:

Data = (Close  - Low[i]) / HL HL = High - Low


Fig. 1. Internal Strength mode HLC


Fig. 2. Internal Strength mode RSI



Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/22351

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