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Views:: 4110
Rating:: (12)
Published:: 2018.07.09 13:45

IMI.mq5 (10.01 KB) view

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Oscillator Intraday Momentum Index displays the ratio between the directed change in the price and the total change in the prices over the specified period.

There are three adjustable parameters:

Period - calculation period;
Overbought - overbought level;
Oversold - oversold level.

Calculation:

IMI = 100*U /(U+D)

where:

U = SMA(Up, Period),
D = SMA(Down, Period)

If Close > Open:

Up = Close - Open

otherwise:

Up = 0

If Close < Open:

Down = Open - Close

otherwise:

Down = 0

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21106

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IMI - indicator for MetaTrader 5