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