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
- ΠΡΠ»ΠΈ Calculation mode = RSI
Internal Strength = RSI(Data,RSI period)
where:
Data = (CloseΒ - Low[i]) / HL HL = High - Low
Fig. 1. Internal Strength mode HLC
Fig. 2. Internal Strength mode RSI
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