OPEN-SOURCE SCRIPT

Aggregated Money Flow Index - InFinito

Updated
Modified Version of In-Built Money Flow Index Indicator. Aggregated Volume is used for it's calculation + a couple of other features.

Aggregation code originally from Crypt0rus

***The indicator can be used for any coin/symbol to aggregate volume , but it has to be set up manually***
***The indicator can be used with specific symbol data only by disabling the aggregation option, which allows for it to be used on any symbol***

- Calculated based on Aggregated Volume instead of by symbol volume . Using aggregated data makes it more accurate and allows to compare volume flow between different kinds of markets (Spot, Futures , Perpetuals, Futures+Perpetuals and All Volume ).

- As well, in order to make the data as accurate as possible, the data from each exchange aggregated is normalized to report always in terms of 1 BTC . In case this indicator is used for another symbol, the calculations can be adjusted manually to make it always report data in terms of 1 contract/coin.

- Added Moving Average ( SMA , EMA , WMA , RMA, VWMA ) that can be plotted to the MFI

- Added 10/90 level and 45/55 range level

Things to look for:

- Divergences: Can be a very good reversal signal
- MA crossovers & Oversold/Overbought levels crossover: With proper confluence, entering a position at MA crossover and exiting at oversold/overbought levels can give very good swing setups (Or scalps on LTF)
- Center range retests: Once in a trend, retesting the middle range can give very good entries and confirmations of the trend
- Confluence of the latter: In combination, if more than one of these occur at the same time it can give more clarity regarding the current state of the market.
Release Notes
FIXED AGGREGATION ERROR
Release Notes
  • Set FTX pairs default to OFF to increase accuracy
Release Notes
Fixed Invalid Symbol Issue
Release Notes
- Fixed Invalid Symbol Error
aggregatedmoneyflowaggregatedvolumeBitcoin (Cryptocurrency)CryptocurrencyMoney Flow Index (MFI)moneyflowindextradingvolumeflow

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

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