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
