Normalized_Intraday_Intensity_Oscillator - MetaTrader 5 script
John Bollinger's Normalized Intraday Strength Oscillator.
It has one input parameter:
NII = SMA(SUMM, period) / average volatility * 100.0
Average VOL = SMA(VOL, period)
SUMM = (2.0 * Closing price - Highest price - Lowest price) / (Highest price - Lowest price) * VOL
VOL - quote volume
Attachment download
📎 normalized_intraday_intensity_oscillator.mq5 (8.67 KB)
Source: MQL5 #22800
Normalized_Intraday_Intensity_Oscillator - MetaTrader 5 script usage and filtering suggestions
Normalized_Intraday_Intensity_Oscillator - MetaTrader 5 script is a resource related to trading scripts. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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