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Bostian's Intraday Intensity Index by David Bostian
John Bollinger had a fine discussion about this in an article that he wrote for the IFTA back in 2002.
I believe he also discusses the Intraday Intensity Index in his book.

The Intraday Intensity Index was written by David Bostian. According to Bollinger the Intraday Intensity Index was called Money Flow by Instinet, Accumulation Distribution by MetaStock and the Daily Volume Indicator by TechniFilter. Bostian's original monograph on the subject appeared in 1967 and can be found in the "Encyclopedia of Stock Market Techniques" published by Investors Intelligence. Intraday Intensity compares the close to the range of the day. Closes near the highs result in positive values for the indicator; closes in the middle of the range in small or zero values; and closes near the lows in negative values. The idea behind Intraday Intensity is that the need for institutional traders to complete their positions gets ever more urgent as the close of trading looms. As they move to fill their needs late in the day their actions cause prices to rise or fall, effectively tipping their hands via the relationship of the close to the day's range.

Bostian's Intraday Intensity Index

Cum(((Pwr((C-L),2) - Pwr((H-C),2))/(H-L))*V)


Source / From: TOP

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