Indicator TII (Trend Intensity Index) was described in the article by M.H. Pee, published in the "Stocks and Commodities" magazine in June, 2002.
It has six input parameters:
- Period - calculation period;
- MA Period - MA calculation period;
- MA Method - Moving Average calculation method;
- Applied price - the calculation price;
- Overbought - overbought level;
- Oversold - oversold level.
Calculation:
TII = 100 * (POS) / (POS +NEG)
where:
POS = SMA(UP, Period)
NEG = SMA(DN, Period)
UP = Price - MA
DN = MA - Price
MA = MA(MA Period, MA Method, Applied price)