Intraday Intensity Index for ThinkorSwim

BenTen

Administrative
Staff member
Staff
VIP
Lifetime
A volume based indicator that depicts the flow of funds for a security according to where it closes in its high and low range.

This indicator was developed by Dave Bostian. Its goal is to track the activity of institutional block traders.

A technical indicator that approximates the volume of trading for a specified security in a given day. It is designed to help track the activity of institutional block traders and is calculated by subtracting the day's high and low from double the closing price, divided by the volume and multiplied by the difference between the high and the low.

John BOLLINGER advised to use this indicator as a confirmation tool with the BOLLINGER BANDS .

If price tags the lower BBand, look for IIIX has positive values to enter a trade. Conversely; If price tags the upper BBand, look for IIIX has negative values to exit.

KSLC5RI.png


Code:
# Intraday Intensity Index
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/klr607Yi-INTRADAY-INTENSITY-INDEX-IIIX-by-KIVAN%C3%87-fr3762/

declare lower;

input length = 21;
def K1 = (2 * close - high - low) * volume;
def K2 = if(high != low, high - low, 1);
def INT = K1 / K2;
def INTSUM = sum(INT, length);

plot histogram = INTSUM;
plot a = INT;

histogram.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
histogram.AssignValueColor(if INTSUM>0 then color.blue else color.red);
a.SetDefaultColor(GetColor(0));
 

wtf_dude

Active member
Inteeeerrresting. Gonna have to play around with this one. Haven't had as much time to experiment in a while.
 

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Top