Oscillator of intraday intensity index as a histogram with a signal line.
It has two configurable parameters:
- Intensity period – calculation period
- Signal period – signal line period
Calculations:
II = 100*Avg/AvgVol Signal = SMA(II, Signal period)
where:
Avg = SMA(Vol, Intensity period) AvgVol = SMA(Volume, Intensity period) Vol = Volume*(2*Close-High-Low) / (High-Low)
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