Intraday_Intensity_Index – indicator for MetaTrader 5

Intraday intensity index oscillator.

It has two input parameters:

  • Period – calculation period;
  • Use normalization – switch (Yes/No) of using normalization in calculations.
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Calculations:

No normalization:

Idx = Sum[Volume * (2*Close - High - Low) / (High - Low)] за Period

With normalization:

Idx = 100*(Sum[Volume * (2*Close - High - Low) / (High - Low)]) / (Sum [Volume]) за Period

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