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II = Sum ((2C-H-L)/(H-L))xV
III = (II / Sum(V)) x 100
Signal = MA of III

Minor Update.

Please how does this indicator work ?

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

The formula is
IIstd = Sum21 ((2C-H-L)/(H-L))xV
IInorm = (IIstd / Sum21 V) x 100
C=close
H=high
L=low
V=volume

These are all the information that I have at my disposal.

MQL4 version of Intraday Intensity oscillator: viewtopic.php?f=38&t=61469.

The indicator was revised and updated.

Is it possible that there is some mistake in this indicator.I made some calculation with this formula:IIstd = Sum21 ((2C-H-L)/(H-L))xV
open0.96120
high 0.96881
low 0.96116
close 0.96725
volume 85709
with this data it IIstd is 50753.17 possitive volue.In metatrader 4 it is negative volue. Please help

I can not make a comparison without mq4 code.
Can you provide it?

//+------------------------------------------------------------------+
//| III2.mq4 |
//| Copyright © 2014, Gehtsoft USA LLC |
//| http://fxcodebase.com |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2014, Gehtsoft USA LLC"
#property link "http://fxcodebase.com"

#property indicator_separate_window
#property indicator_buffers 4
#property indicator_color1 Red
#property indicator_color2 Blue

extern int Length=21;
extern int Smoothing_Length=14;

double III[], Signal[];
double Raw[], Vol[];

int init()
{
IndicatorShortName("Intraday Intensity oscillator");
IndicatorDigits(Digits);
SetIndexStyle(0,DRAW_HISTOGRAM);
SetIndexBuffer(0,III);
SetIndexStyle(1,DRAW_LINE);
SetIndexBuffer(1,Signal);
SetIndexStyle(2,DRAW_NONE);
SetIndexBuffer(2,Raw);
SetIndexStyle(3,DRAW_NONE);
SetIndexBuffer(3,Vol);

return(0);
}

int deinit()
{

return(0);
}

int start()
{
if(Bars<=3) return(0);
int ExtCountedBars=IndicatorCounted();
if (ExtCountedBars<0) return(-1);
int limit=Bars-2;
if(ExtCountedBars>2) limit=Bars-ExtCountedBars-1;
int pos;
pos=limit;
while(pos>=0)
{
if (High[pos]!=Low[pos])
{
Raw[pos]=Volume[pos]*(2.*Close[pos]-High[pos]-Low[pos])/(High[pos]-Low[pos]);
}
Vol[pos]=Volume[pos];

pos--;
}

double Avg, AvgVol;
pos=limit;
while(pos>=0)
{
Avg=iMAOnArray(Raw, 0, Length, 0, MODE_SMA, pos);
AvgVol=iMAOnArray(Vol, 0, Length, 0, MODE_SMA, pos);
if (AvgVol!=0.)
{
III[pos]=100.*Avg/(AvgVol*Point);
}

pos--;
}

pos=limit;
while(pos>=0)
{
Signal[pos]=iMAOnArray(III, 0, Smoothing_Length, 0, MODE_SMA, pos);

pos--;
}

return(0);
}

I want to ask someone to help me.I need indicator only with this formula
IIstd = Sum21 ((2C-H-L)/(H-L))xV
no normalization please help