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Money Flow Index (MFI)
Source: https://fxcodebase.com/code/viewtopic.php?f=48&t=66050
Forum: 48 · Topic 66050 · 1 post(s)
Money Flow Index (MFI)
Alexander.Gettinger · Wed May 02, 2018 11:50 am
MFI is a momentum indicator, similar to RSI (Relative Strength Index), but it’s more rigid because it is volume-weighted, and, therefore, is a good method to measure of the strength of money flowing in and out of a security. As RSI, the MFI scale is 0 - 100 and the indicator is often calculated using a 14 day period.
Formula: Typical Price is (High + Low + Close) / 3
Positive = Typical * Volume IF Typical > Typical[previous] Negative = Typical * Volume IF Typical < Typical[previous] R(N) = Sum(Positive, N) / Sum(Negative, N) MFI(N) = 100 - (100 / (1 + R(N))
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