IBS – indicator for MetaTrader 5

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Internal Bar Strength (IBS) indicator is developed by Volker Knapp.

Calculation:

The indicator is calculated as a moving average of the bars inner strength values representing the following equation for each of them:

IBS = ((Close – Low) / (High – Low)) * 100%

Usage:

The period equal to five bars is usually used. The crossing of 60% level means the overbuying and the crossing of 40% level means overselling, and so they are the signals for selling and buying respectively.

Input parameters:

//+-----------------------------------+
//| Indicator input parameters        |
//+-----------------------------------+
input Smooth_Method IMA_Method=MODE_SMA; // Smoothing method
input int ILength=12;                    // Smoothing depth                    
input int IPhase=15;                     // Smoothing parameter
input Applied_price_ IPC=PRICE_CLOSE_LOW;// Applied price
input int Shift=0;                       // Horizontal shift of the indicator in bars

This indicator allows to change smoothing method:

  1. SMA – simple moving average;
  2. EMA – exponential moving average;
  3. SMMA – smoothed moving average;
  4. LWMA – linear weighted moving average;
  5. JJMA – JMA adaptive average;
  6. JurX – ultralinear smoothing;
  7. ParMA – parabolic smoothing;
  8. T3 – Tillson’s multiple exponential smoothing;
  9. VIDYA – smoothing with the use of Tushar Chande’s algorithm;
  10. AMA – smoothing with the use of Perry Kaufman’s algorithm.

It should be noted that Phase type parameters for different smoothing algorithms have completely different meaning. For JMA it is an external Phase variable changing from -100 to +100. For T3 it is a smoothing ratio multiplied by 100 for better visualization, for VIDYA it is a CMO oscillator period and for AMA it is a slow EMA period. In other algorithms these parameters do not affect smoothing. For AMA fast EMA period is a fixed value and is equal to 2 by default. The ratio of raising to the power is also equal to 2 for AMA.

The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.

This indicator was first implemented in MQL4 and published in CodeBase at mql4.com 10.10.2008.

MT5 Indicators – Download Instructions

IBS – indicator for MetaTrader 5 is a Metatrader 5 (MT5) indicator and the essence of this technical indicator is to transform the accumulated history data.

IBS – indicator for MetaTrader 5 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT5 Strategies

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How to install IBS – indicator for MetaTrader 5.mq5 to your MetaTrader 5 Chart?

  • Download IBS – indicator for MetaTrader 5.mq5
  • Copy IBS – indicator for MetaTrader 5.mq5 to your Metatrader 5 Directory / experts / indicators /
  • Start or restart your Metatrader 5 Client
  • Select Chart and Timeframe where you want to test your mt5 indicator
  • Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
  • Right click on IBS – indicator for MetaTrader 5.mq5
  • Attach to a chart
  • Modify settings or press ok
  • Indicator IBS – indicator for MetaTrader 5.mq4 is available on your Chart

How to remove IBS – indicator for MetaTrader 5.mq5 from your Metatrader 5 Chart?

  • Select the Chart where is the Indicator running in your Metatrader 5 Client
  • Right click into the Chart
  • “Indicators list”
  • Select the Indicator and delete

IBS – indicator for MetaTrader 5 (Free Download)

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