Oscillator Intraday Momentum Index displays the ratio between the directed change in the price and the total change in the prices over the specified period.

There are three adjustable parameters:

Period – calculation period;
Overbought – overbought level;
Oversold – oversold level.

Calculation:

IMI = 100*U /(U+D)

where:

U = SMA(Up, Period),
D = SMA(Down, Period)

If Close > Open:

Up = Close – Open

otherwise:

Up = 0

If Close < Open:

Down = Open – Close

otherwise:

Down = 0

IMI – indicator MetaTrader 5

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