Intraday Intensity Index (III)

Category: volume

A volume-based indicator that tracks institutional money flow by measuring where the close price falls within the day's high-low range relative to volume.

Formula

\text{position\_multiplier} = \frac{2 \cdot \text{Close} - \text{High} - \text{Low}}{\text{High} - \text{Low}} \\ \text{III} = \text{SMA}(\text{position\_multiplier} \cdot \text{Volume}, \text{period})

Inputs

• period (default: 14)
• cumulative (default: false)

See signal primitives, usage in published strategies and more on WOBR StrategyVerse.