Indicators: IBS
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IBS:
Internal Bar Strength (IBS) indicator is developed by Volker Knapp. It measures the "inner strength" of each bar by subtracting the close price from the low and dividing the resulting number by the difference between high and low bars.
Indicator values vary from 0 to 100. 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.
Author: Nikolay Kositsin