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Indicators

IMI - indicator for MetaTrader 5

Scriptor | English Русский 中文 Deutsch

Views:
103
Rating:
votes: 5
Published:
2018.07.09 13:45
IMI.mq5 (10.01 KB)view

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 Software Corp.
Original code: https://www.mql5.com/ru/code/21106

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