What does the Intraday Intensity indicator measure?

The Intraday Intensity indicator specifically measures the relationship of the closing price to the high and low prices within a particular trading session. This indicator aims to quantify buying and selling pressure by assessing how strongly the closing price shifts in relation to the price range established during that day.

When the closing price is significantly closer to the day's high, it indicates strong buying pressure, reflecting bullish sentiment. Conversely, if the closing price is nearer to the low, it suggests selling pressure and bearish sentiment. The calculation typically involves the current price's position within the day's range, thereby offering traders insights into potential future price movements based on intraday trading dynamics.

This focus on the interplay between the high, low, and closing prices directly aligns with the purpose of the Intraday Intensity indicator, making it particularly valuable for day traders and those analyzing short-term trends. The other options do not accurately represent the specific function of this indicator.