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III2.mq5 (11.54 KB) view

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Oscillator of intraday intensity index as a histogram with a signal line.

It has two configurable parameters:

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)

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21323

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III2 - indicator for MetaTrader 5