Intraday Intensity Open Form for MT4

The Intraday intensity Open Form is used by analysts as an insight into institutional buying and selling.
How it does this is it compares where the prices Close in relation to the Open and Close values.
It then uses volume (tick volume in MT4) as part of it's calculation.

• A stale and ranging market (low volatility and volume) will show very little values of intraday intensity.
• Strong trends with high volume will display big values.

Formula: Intraday Intensity = Sum(i=1, to infinity) ((2c-h-l)/(h-l)*v)

This version I've made is colored.