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# III: Intraday Intensity Index
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| Property | Value |
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| ---------------- | -------------------------------- |
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| **Category** | Volume |
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| **Inputs** | OHLCV bar (TBar) |
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| **Parameters** | `period` (default 14), `cumulative` (default false) |
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| **Outputs** | Single series (III) |
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| **Output range** | Unbounded |
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| **Warmup** | `period` bars |
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### TL;DR
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- The Intraday Intensity Index (III) measures buying and selling pressure by analyzing where the close price falls within the high-low range, weighte...
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- Parameterized by `period` (default 14), `cumulative` (default false).
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- Output range: Unbounded.
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- Requires `period` bars of warmup before first valid output (IsHot = true).
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- Validated against TA-Lib, Skender, and Tulip reference implementations where available.
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> "Where the close lands within the day's range tells you who won the battle—bulls or bears. Volume tells you how hard they fought."
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The Intraday Intensity Index (III) measures buying and selling pressure by analyzing where the close price falls within the high-low range, weighted by volume. Originally developed by David Bostian, this indicator quantifies whether money is flowing into or out of a security on an intraday basis. Values range from -1 (close at low, maximum selling pressure) to +1 (close at high, maximum buying pressure), multiplied by volume for magnitude.
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@@ -132,4 +149,4 @@ Validation focuses on internal consistency (streaming vs batch vs span modes).
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## References
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- Bostian, D. "Intraday Intensity Index." *Technical Analysis of Stocks & Commodities*.
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- Arms, R. W. (1989). "The Arms Index (TRIN)." *Dow Jones-Irwin*.
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- Arms, R. W. (1989). "The Arms Index (TRIN)." *Dow Jones-Irwin*.
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