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Recent Internal Bar Strength
This indicator is designed to assist price action traders by highlighting the Internal Bar Strength (IBS) of recent bars, offering a quantitative measure of each bar’s closing position within its own high–low range.
IBS is computed by dividing the difference between the bar’s closing price and its low by the total price range of that bar (i.e., the difference between its high and low). The resulting value lies between 0 and 1: the closer the closing price is to the high, the nearer the IBS approaches 1; conversely, the closer it is to the low, the nearer the IBS approaches 0. This metric may be interpreted as an indicator of directional bias within the bar itself, indirectly reflecting the strength or weakness of short-term market momentum.
In implementation, the IBS value is expressed as a percentage and visually encoded according to preset thresholds. Specifically, bullish bars with an IBS exceeding the upper threshold (default: 69) are rendered in blue-green, while bearish bars with an IBS falling below the lower threshold (default: 31) are rendered in orange. All other bars are displayed in a neutral gray. This visual scheme allows traders to quickly discern bars exhibiting pronounced internal strength or weakness, thereby facilitating more informed assessments of potential price behavior in the near term.
The indicator provides two types of information concurrently. First, it displays a user-defined number of IBS labels for recently closed bars, enabling retrospective analysis of recent price action and its continuity or variation. Second, it presents the real-time IBS value for the currently forming bar, allowing traders to monitor the bar’s evolving position within its range as it develops.
By visualizing IBS directly on the chart, this indicator offers a concise and coherent tool for observing the structural dynamics of individual bars. It aids in the quantitative interpretation of intrabar momentum, enriching the trader’s capacity to read price behavior with greater clarity and precision.
IBS is computed by dividing the difference between the bar’s closing price and its low by the total price range of that bar (i.e., the difference between its high and low). The resulting value lies between 0 and 1: the closer the closing price is to the high, the nearer the IBS approaches 1; conversely, the closer it is to the low, the nearer the IBS approaches 0. This metric may be interpreted as an indicator of directional bias within the bar itself, indirectly reflecting the strength or weakness of short-term market momentum.
In implementation, the IBS value is expressed as a percentage and visually encoded according to preset thresholds. Specifically, bullish bars with an IBS exceeding the upper threshold (default: 69) are rendered in blue-green, while bearish bars with an IBS falling below the lower threshold (default: 31) are rendered in orange. All other bars are displayed in a neutral gray. This visual scheme allows traders to quickly discern bars exhibiting pronounced internal strength or weakness, thereby facilitating more informed assessments of potential price behavior in the near term.
The indicator provides two types of information concurrently. First, it displays a user-defined number of IBS labels for recently closed bars, enabling retrospective analysis of recent price action and its continuity or variation. Second, it presents the real-time IBS value for the currently forming bar, allowing traders to monitor the bar’s evolving position within its range as it develops.
By visualizing IBS directly on the chart, this indicator offers a concise and coherent tool for observing the structural dynamics of individual bars. It aids in the quantitative interpretation of intrabar momentum, enriching the trader’s capacity to read price behavior with greater clarity and precision.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.