Imi - Stock Intraday Momentum Index Indicator

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IMI

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Indicator	Usage	Description	Example
imi	imi[x,n] OPERATOR (INDICATOR or NUMBER) , where x is a positive integer >= 2 and n is optional and represents the number of days ago the result is computed (n=0 is the default value and represents the current end of day, n=1 is the previous end of day, etc.)	Returns the x-day intraday momentum index from n days ago.	(imi[14] < 30)

Introduction:

The IMI (intraday momentum index) is a ratio of the total magnitude of the up day candle bodies to the total magnitude of the down day candle bodies over the past x-days. An up day candle body is white and is the close minus the open for a particular day. A down day candle body is black and is the open minus the close for a particular day. So if you see a lot of consecutive long white candle bodies and only a few short black body candle bodies on a stock chart then the IMI will be high (perhaps near 100%). The 'imi' indicator is used in indicator formula construction to narrow the stock pre-screener results to include only those stocks that have an imi restricted to the parameters set for the imi indicator.

Example:

The following chart of Intel (INTC) highlights days where the 14-day intraday momentum index is less than 30%.

INDICATORS IN OUR DATABASE THAT INCLUDE THE IMI INDICATOR...

Click here to view all indicators that include the indicator 'imi' (sorted by AISCORE)

(imi[14] < 30)

AISCORE: 5462

Indicator ID: 060310143034

(high[0] < high[1]) and (high[1] < high[2]) and (low[0] < low[1]) and (low[1] < low[2]) and (imi[10] < 30)

AISCORE: 6689

Indicator ID: 060322223706

(high[0] < high[1]) and (high[1] < high[2]) and (low[0] < low[1]) and (low[1] < low[2]) and (faststo[25,3,d] < 20) and (black[0]) and (imi[10] < 50)

AISCORE: 7087

Indicator ID: 060322225309

(lgbody[0]) and (black[0]) and (imi[9] < 30)

AISCORE: 6005

Indicator ID: 060506112725

(p3range[2] > 10) and (p4change[3] < -2) and (imi[37] < 40)

AISCORE: -3637

Indicator ID: 060811180000

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