Internal Bar Strength

// ============================================================
// Internal Bar Strength
// ProRealAlgos Strategy Library  |  prorealalgos.com
// Type: Mean reversion
// Direction: Long only
// Timeframe tested: Daily
// ============================================================

// --- Settings ---
DEFPARAM CumulateOrders = false

// --- Parameters ---
positionSize = 1          // contracts per trade
ibsEntryLevel = 10        // buy when the close is in the bottom 10% of the bar

// --- Indicators ---
// Where the close sits in the bar's range, 0 to 100 (a bar with high = low divides by zero, as tested)
ibsValue = (close - low) / (high - low) * 100