Intraday_Intensity_Index - MetaTrader 5 Script - MT4/MT5 Resource
Intraday Strength Index Oscillator.
It has two input parameters:
No standardization:
Idx = Sum[Trading volume* (2*Closing price - Highest price - Lowest price) / (Highest price - Lowest price)] за cycle
By standardization:
Idx = 100*(Sum[Volume* (2*Closing Price - Highest Price - Lowest Price) / (Highest Price - Lowest Price)]) / (Sum[Volume]) за Period
Attachment download
📎 intraday_intensity_index.mq5 (9 KB)
Source: MQL5 #20858
Intraday_Intensity_Index - MetaTrader 5 script usage and filtering suggestions
Intraday_Intensity_Index - MetaTrader 5 script is a resource related to Forex indicators. 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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