Internal Strength: Daily Range Position and RSI Modes

Summary

Internal Strength is an oscillator intended to show where the close sits within the day’s high-low range. In its HLC mode, it calculates the close’s position as a fraction of the range, using the high, low, and close. In its RSI mode, it applies RSI to that range-position value over a configurable period. The indicator also exposes overbought and oversold levels.

The document defines the calculation but provides no trading rules, parameter values, examples of signals, or performance evidence. It does not explain how to handle a zero-width range or establish that the oscillator predicts reversals. Traders would need to decide how to interpret its levels and independently test any use in a strategy.

Key ideas

• HLC mode measures the close’s location within the high-low range.\nRSI mode applies RSI to the range-position series using a selected period.\nThe indicator includes configurable overbought and oversold thresholds.\nThe document gives no signal rules or evidence of trading performance.

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