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Actually, I believe the Intraday Intensity(II) and the Chaiken
Moneyflow (CMF) indicators are identical.
II = (2*close-high-low) / (high - low) * volume
CMF = ((Close - low) - Close - high)) / (high - low) * voluume.
If you reconfigure the "((Close - low) - (Close - high))" you get
(close - close - high - low) - or (2*close - high - low)
To normalize it I use
Cmf = Sum(((( C-L )-( H-C )) / ( H-L ))*V, 21 ) / Sum(V,21); - which
divides the 21 day sum of the CMF by the sum of the volume also over
21 days.
I also go a step further and determine "MoneyFlow Persistency" by
finding out how many days out of period "x" the 21-day CMF was
positive. I believe that positive values suggest the stock is being
accumulated.
For example, when I look at
CMF60 =Sum((CMF > 0),60)/(60/100); and
CMF45 =Sum((CMF > 0),45)/(45/100); (and a few other time periods) I
believe the stock is being accumulated if these values are 80 or
higher.
I would be interested in comments
Rick
--- In amibroker@xxxxxxxxxxxxxxx, "bowbie89" <robm@xxxx> wrote:
> Hello All,
>
> I am trying to implement the Intraday Intensity indicator which is
> based upon the following formula:
>
> II = (2*close-high-low)/(high-low)*volume
>
> This is the open ended version similiar to the Accumulation
> Distribution indicator.
>
> I took a stab at this with the following but it is not correct:
>
> /*Intraday Intensity Idicator*/
>
> II=Cum(2*C-H-L)/(H-L)*V;
>
> Plot(II,"Intraday Intensity",colorBlue,styleLine);
>
> Thanks for any help on a correction.
>
> Rob
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