This is a modification of the commonly used money flow index. The major change is to the way the average price is calculated. Typically this is done with a hlc3 method,
meaning the average of the period high, low, and closing prices. This calculation infers that volume is evenly distributed between those three points. Generally this is not the case.
My version...
It came to my attention that one very common implementation of SMI was incorrect; rather than subtracting the first hour delta and adding the last hour delta it subtracts the whole day delta and adds the last 30m delta. While this indicator might have had some use, it is not what I understand to be the actual Smart Money Index and so I post this as a correction...
In this script
I combined the various of the oscillator
MFI ( Money Flow Index ) with BB ( Bollinger Bands ).
As the MFI crosses the BB base, a green / red point is formed accordingly.
As a sign it is possible to continue up / down.
I added EMA8 to MFI (style circles)
When the oscillator is above the EMA - it is possible that this is a clear sign of an...
Money Flow (MFL of MFI) indicator for the DAX index, which works on the hourly timeframe.
In order for this indicator to work for you, you must have access to the Xetra (XETR:DAX) tickers, where the underlying stocks of DAX are trading.
For some reason Xetra does NOT provide hourly volume so you can't see the money flow using the built-in TradingView indicator....
Applicable to FTX:ETHPERP 15 min
Relative volatility index (RVI) that will determine the entry and exit points only when the volatility will start to increase and Money Flow index as an additional point for entry.
IMPORTANT
• Input Partial take profits in your Bot settings
• This is a trend strategy and works better in the trending market
• We added the...
Using built-in code from Divergence Indicator I've created the MF RSI indicator.
A great way to combine two great indicators and divergence.
A alert condition is available on a potential reversal MFI crosses RSI on overbought or oversold.
This script is similar to the previous one "Bollinger Bands Money Flow Index" but it's a little easier to interpret.
Fix the top line of the "BBMFI" to 1, and the bottom line to 0.
Indicates where "Money Flow Index" is located between the top and bottom lines.
If it's bigger than 1, it's overbuying. If it's less than 0, it's overselling.
Consider a trade if you...
This script embodies the application of the Bollinger Band and Money Flow Index in John A. Bollinger's book "Bollinger on Bollinger Bands."
"Bollinger on Bollinger Bands" suggests a relatively method of analysis by applying the Bollinger Band to an indicator.
Here's one of the indicators, Money Flow Index.
Money Flow Index is an indicator of overbuying and...
This is a compact & simple study that tracks the short-term average price change and the (average) volume associated with it, to generate a very clear signal when a change of buying/selling flow is detected. these buy/sell cycles can happen within a longer "demand / trend-up" or "supply / trend down" phases as we know.
this concept is a bit different from MFI or...
An update of my previous code "Stoch.RSI+RSI+DoubleStrategy+CMWilliamsVixFix+MFI".
Updates:
- Script converted to v4 and to study version
- Removed the "Double strategy" code because it doesn't work much well
- Replaced the "CM_Williams_Vix_Fix" (by ChrisMoody) code with its updated version "CM_Williams_Vix_Fix_V3" that also features custom filtered alerts...
I liked the style of one of Noldo's scripts pertaining to Put/Call ratio so I adapted my existing UVol / DVol ratio script using his code from
I am also reducing the number of securities referenced to only Nasdaq which speeds up displaying
The yellow bars are meant to represent stagnant volume, with green / red representing strong up or down volume.
Note the...
The script measures relative strenth of bull bars vs bear bars that complete the next rules:
1) rising price with rising volume calculates as bullish only if the next candle is higher
2) falling price with falling volume calculates as bullish only if the next candle is higher
3) rising price with falling volume calculates as bearish only if the next candle is...
This script was created by building my Dependent Variable Odd Generator script on the Minkovski Distance Adaptive Period.
I have tried this on MACD before.
Script related to MACD :
I used an older version that does not use Dow Factor to suit multi timeframe analysis.
In this way, market situations provide the opportunity to see histograms in an adaptive...
Money Flow Index (MFI) is the technical indicator, which indicates the rate at which money is invested into a security and then withdrawn from it.
Construction and interpretation of the indicator is similar to Relative Strength Index with the only difference that volume is important to MFI.
Usage:
When analyzing the money flow index one needs to take into...
This is the improved version of Stochastic Money Flow Index script that uses Open Interest instead of volume in Future markets.
I think it will make a difference especially in Future and CFD markets.
Since the system will pull data from Quandl, CFTC reports may cause repaint when disclosed.
So if you use it during the weekly time frame (1W), it will definitely...
This script uniquely and creatively get daily data on HSI futures from third party sources, so that it display the regular hours trading of HSI data and ignore after hours trading ( AHT ) data, which HSIC1! currently does not allow excluding AHT data.
This script shows candle.
![SPX500USD: MFI - Money Flow Index [UTS]](https://s3.tradingview.com/u/UrFYXELY_mid.png "MFI - Money Flow Index [UTS]")
