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Miha Kralj
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# IMI: Intraday Momentum Index
# IMI: Intraday Momentum Index
| Property | Value |
| ---------------- | -------------------------------- |
| **Category** | Oscillator |
| **Inputs** | OHLCV bar (TBar) |
| **Parameters** | `period` (default 14) |
| **Outputs** | Single series (IMI) |
| **Output range** | Varies (see docs) |
| **Warmup** | `period` bars |
### TL;DR
- The Intraday Momentum Index measures buying and selling pressure using the open-to-close relationship within each bar, rather than the close-to-clo...
- Parameterized by `period` (default 14).
- Output range: Varies (see docs).
- Requires `period` bars of warmup before first valid output (IsHot = true).
- Validated against TA-Lib, Skender, and Tulip reference implementations where available.
The Intraday Momentum Index measures buying and selling pressure using the open-to-close relationship within each bar, rather than the close-to-close changes used by RSI. Each bar is classified as a gain (close > open) or loss (close < open), with the magnitude being the absolute open-close difference. Rolling sums of gains and losses over the lookback period produce an RSI-like ratio scaled to 0-100. This bridges Japanese candlestick analysis with Western oscillator theory: bullish candles contribute to the gain sum, bearish candles contribute to the loss sum. Unlike RSI, IMI does not require a previous close and uses simple rolling sums rather than exponential smoothing, making it more responsive but noisier. Output is bounded 0-100 with conventional overbought (>70) and oversold (<30) zones.