$59.00

The Money Flow Index (MFI) is a technical oscillator that uses price and volume data for identifying overbought or oversold signals in an asset. It can also be used to spot divergences which warn of a trend change in price. The oscillator moves between 0 and 100.
Unlike conventional oscillators such as the Relative Strength Index (RSI), the Money Flow Index incorporates both price and volume data, as opposed to just price. For this reason, some analysts call MFI the volume-weighted RSI.

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Money Flow Index settings

Note
Since this is a volume based indicator it’s best to set it’s Calculate parameter to ‘On each tick’.

Alerts

  • When the MFI crosses the 50 line
  • When MFI crosses it’s EMA

Signals

Strong LongWhen the MFI is above 50 and rising (and above the EMA, if specified), or when the MFI crosses the EMA from below
Weak LongWhen the MFI is above 50 and falling, or when the MFI is above the EMA (if specified) and below 50
NoneWhen the MFI equals the EMA
Weak ShortWhen the MFI is below 50 and rising, or when the MFI is below the EMA (if specified) and above 50
Strong ShortWhen the MFI is below 50 and falling (and below the EMA, if specified), or when the MFI crosses the EMA from above

Settings

MFI PeriodThe number of bars the MFI evaluates
EMA of MFIAn optional EMA period applied to the MFI. Use zero if you don’t want the EMA in the indicator and in the signal calculations
Displace EMAThe displacement of this EMA. Use zero for no displacement
Color barsIf checked the bars will be coloured the same as the MFI line when the MFI is in the 40/60 zone, and red or green if below/above it
Lines & PlotsThe lines and plots of the indicator.