Indicators

Intraday Momentum Index

Description

The Intraday Momentum Index (IMI), is a technical indicator that combines aspects of candlestick analysis with the Relative Strength Index (RSI) in order to generate overbought or oversold signals.

The intraday indicator was developed by market technician Tushar Chande to aid investors with their trading decisions.

For more information, please visit Investopedia.

Params & Instance Methods

#initialize
@param series [Array] An array of arrays containing open, close prices, e.g. [[open, close], [open, close]]
@param period [Integer] The number of periods to use in the calculation - default is 14

#call
@return [Float] The current Intraday Momentum Index value

#valid?
@return [Boolean] Whether or not the object is valid

Example

require 'ruby-technical-analysis'

series = [[18.4833, 18.5], [18.5417, 18.4167], [18.4167, 18.1667], [18.1667, 18.125], [18.1667, 17.9583],
          [18.0417, 18], [18, 17.9583], [17.9167, 17.8333], [17.7917, 17.9583]]
period = 7

intraday_momentum_index = 
  RubyTechnicalAnalysis::IntradayMomentumIndex.new(
    series: series,
    period: period
  )

p intraday_momentum_index.valid? # true

p intraday_momentum_index.call # 19.988
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