Intraday Intensity Indicator Using Price Location and Tick Volume

Summary

The document describes an Intraday Intensity indicator with no user-set parameters. It updates a running intensity value by adding a bar-based term that compares the close with the high and low, scaled by the product of the bar’s range and tick volume. This makes the close’s position within the bar central to the indicator’s change, with tick volume and range in the denominator.

The source provides the calculation but no trading rules, examples, tests, or performance evidence. It does not explain how to interpret the accumulated value, choose a lookback period, or handle bars with zero range or volume, which could make the stated denominator zero. Traders would need to establish and validate those details before using the indicator in a strategy.

Key ideas

• The indicator accumulates a bar-by-bar intensity value.
• Each update compares the close with the high and low.
• The adjustment is scaled by the bar range multiplied by tick volume.
• The document supplies no entry rules or performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.