Internal Strength Indicator from Candle Position and RSI

Summary

This document defines an Internal Strength indicator with selectable calculation and display settings. Its raw input is the close's position within the high-low range of a bar, expressed as a fraction. Alternatively, the indicator can apply RSI to that raw series using a chosen RSI period. The display can be rendered as a line or as bars, and the underlying price inputs are described as selectable among high, low, and close.

The page lists example display combinations but gives no interpretation rules, entry or exit signals, or empirical performance evidence. It does not explain how to handle bars where high equals low, nor does it establish whether the indicator predicts future returns. Traders would need to define and test any use of the value themselves; the description is a calculation reference rather than a complete strategy.

Key ideas

• The raw value measures the close's location between the bar's low and high.
• The indicator can use that raw series directly or transform it with RSI.
• The RSI period, price input, and line-or-bar display are configurable.
• The document supplies no trading rules or performance evidence.

Tags

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