Internal Bar Strength

The Internal Bar Strength (IBS) indicator measures the relative strength of a bar's close compared to its range.

The formula for calculating the IBS is as follows:

IBS = (Close - Low) / (High - Low)

The value of the IBS ranges between 0 and 1.

If the close of the bar is at the low, the value will be 0, and if the close is at the high, it will be 1.