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