Indicator: Intrady Momentum Index

Bitcoin / U.S. dollarBitstamp

描述

⋅ 2014年8月1日早上12點16分

The Intraday Momentum Index (IMI), developed by Tushar Chande, is a cross-breed between RSI and candlestick analysis. IMI determines the candle type that dominated the recent price action, using that to pinpoint the extremes in intraday momentum.

As the market tries to bottom after a sell off, there are gradually more candles with green bodies, even though prices remain in a narrow range. IMI can be used to detect this shift, because its values will increase towards 70. Similarly, as the market begins to top, there will be more red candles, causing IMI to decline towards 20. When the market is in trading range, IMI values will be in the neutral range of 40 to 60.

Usually intraday momentum leads interday momentum. QStick can show interday momentum, it complements IMI. You will find it in my published indicators.

I have added volatility bands based OB/OS, in addition to static OB/OS levels. You can also turn on IMI Ehlers smoothing. BTW, all parameters are configurable, so do check out the options page.

List of my other indicators:
- tradingview.com/v/4IneGo8h/
- Google doc: docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing

評論

mbhqiz2118

⋅ 2021年6月2日上午9點10分

what timeframe should you use this indicator on?

Nickmar11

⋅ 2022年8月15日早上12點55分

what do the green and red crosses exactly mean?

BizkitBR

⋅ 2014年8月15日早上1點10分

tradingstrategyideas.com/entries/intraday-momentum-indicator/

HeadGames

⋅ 2020年2月27日下午2點04分

Thanks.

QuantitativeExhaustion

⋅ 2014年8月1日早上2點14分

Bravo, always good to see your published charts. Have all your published charts linked in my Indicator list.

LazyBear

⋅ 2014年8月1日早上2點19分

Thanks.

Yes, all my indicators are listed there (except this, ofc). I usually update that list every week or so. For a much cleaner list, use the Google docs link.

QuantitativeExhaustion

⋅ 2014年8月1日早上2點28分

In the case where you have two indicators, we can not add both indicators, only the first one listed. When we had the share chart "make it mine" tab, we could copy both indications.

LazyBear

⋅ 2014年8月1日早上2點31分

I know, I have requested this feature to @admin/team. Till then "Make mine" is our friend :)

QuantitativeExhaustion

⋅ 2014年8月1日早上3點11分

Glad you did, Team of great programmers here at TV

QuantitativeExhaustion

⋅ 2014年8月1日早上2點30分

//
// @Author LazyBear
// List of all my indicators: tradingview.com/v/4IneGo8h/
//
study("Intrady Momentum Index [LazyBear]", shorttitle="IMI_LB")
length=input(14, "IMI Length")
lengthMA=input(6, "IMI MA Length")
obLevel=input(70, "IMI static OB level")
osLevel=input(20, "IMI static OS level")
mult=input(2.0, title="Volatility Bands Stdev Mult")
lengthBB=input(20, title="Volatility Bands Length")
applySmoothing=input(false, "Smooth IMI")
lowBand=input(10, "Smoothing LowerBand")
PI=3.14159265359
EhlersSuperSmootherFilter(price, lower) =>
a1 = exp(-PI * sqrt(2) / lower)
coeff2 = 2 * a1 * cos(sqrt(2) * PI / lower)
coeff3 = - pow(a1,2)
coeff1 = 1 - coeff2 - coeff3
filt = coeff1 * (price + nz(price[1])) / 2 + coeff2 * nz(filt[1]) + coeff3 * nz(filt[2])
filt

gains=iff(close>open,nz(gains[1])+(close-open),0)
losses=iff(close<open,nz(losses[1])+(open-close),0)
upt=sum(gains,length)
dnt=sum(losses,length)
imi=applySmoothing ? EhlersSuperSmootherFilter(100*(upt/(upt+dnt)), lowBand) : 100*(upt/(upt+dnt))
basisx=ema(imi, lengthBB)
devx = (mult * stdev(imi, lengthBB))
ulx = (basisx + devx)
llx = (basisx - devx)

// Uncomment if you want more bands
//hline(90)
//hline(10)
hline(obLevel)
hline((obLevel+osLevel)/2, linestyle=dotted)
hline(osLevel)
plot(imi, color=red, linewidth=2)
plot(imi>=ulx? imi : na, color=green, style=cross, linewidth=3 )
plot(imi<=llx? imi : na, color=maroon, style=cross, linewidth=3 )
plot(ema(imi, lengthMA), color=blue)

Now you must copy PINE SCRIPT and paste the entire code when you open up a new chart.