Internal Bar Strength

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Short Description:
This indicator calculates the Internal Bar Strength (IBS) for each bar, which measures the close price’s relative position within that bar’s high-low range, and then optionally smooths that value with a selected moving average.

What Does It Measure?
Internal Bar Strength (IBS):
The IBS formula is (close-low)/(high-low)​
. This ratio indicates where the closing price lies within a bar’s trading range:
A value near 0 means the close is near the bar’s low.
A value near 1 means the close is near the bar’s high.
A value of 0.5 means the close is exactly in the middle of the bar’s range.

Smoothing (Moving Averages):
You can choose to smooth the IBS value with one of five different moving average types: RMA, SMA, EMA, WMA, or VWMA. The default length for smoothing is 10, but this can be adjusted for more or less sensitivity.

Key Features
Multiple MA Options:

• RMA: Also known as the Wilder’s moving average, it reacts slightly slower to changes than EMA.
  
• SMA: Simple moving average, straightforward average of the last n values.
  
• EMA: Exponential moving average, places more weight on recent data.
  
• WMA: Weighted moving average, linear weighting from oldest to newest data.
  
• VWMA: Volume-weighted moving average, weights price by trading volume.
  

Color Coding:
Green when IBS is greater than 0.5.
Red when IBS is less than or equal to 0.5.

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