Developed by Tushar Chande, the Intraday Momentum Index (IMI) is a cross-breed between the RSI and candlestick analysis. The calculation of the IMI is very similar to the RSI, except it uses the relationship between the intraday opening and closing prices to determine whether the day is “up” or “down.” If the close is above the open, it is an up day. If the close is below … [Read more...]