The IDayIIndex (Intraday Intensity Index) oscillator indicator.
It is calculated by the following formula:
III = Sum((2C-H-L)/(H-L))*TickVolume
Normalized:
Normalized III = (III /Sum(V))*100
The indicator has two input parameters:
- Normalized – enable or disable the calculation of the normalized index (Yes/No);
- Period – indicator calculation period.
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