Displaying Internal Bar Strength as a Colored Histogram

Summary

The document describes XIBS_Histogram, an indicator that displays Internal Bar Strength as a colored histogram. It identifies the indicator’s author and notes that the implementation uses classes from the SmoothAlgorithms library, which must be available in the platform’s include directory. The histogram presentation provides a visual format for viewing the indicator’s values on a chart.

The source offers no explanation of how Internal Bar Strength is calculated, how to interpret histogram colors or levels, or how the indicator might be used in a trading strategy. It includes a figure reference and a pointer to a separate article about the library’s averaging classes, but no test results or evidence of predictive value. The description is therefore useful as a brief account of the indicator’s display and dependency, while leaving its trading interpretation and performance unaddressed.

Key ideas

• XIBS_Histogram displays Internal Bar Strength as a colored histogram.
• The implementation depends on classes from the SmoothAlgorithms library.
• The document does not explain the calculation or interpretation of histogram values.
• No trading rules, tests, or performance evidence are provided.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.