Function : Stochastic Money Flow Index

Bitcoin / DollarBitfinex

Description

⋅ Nov 8, 2019 11:59 AM

This function is similar to the stochastic rsi function.
The only difference is that Money Flow Index is used instead of rsi.
Oversold and overbought values were changed to 80 and 20.
Because the MFI's overbought and overbought zones are 20 and 80.
In MFI, I think that it can be more beneficial in liquid markets than stochastic rsi since volume is taken into account in contrast to RSI.
Regards.

Money Flow Index (MFI)Stochastic RSI (STOCH RSI)Relative Strength Index (RSI)hybrid MFI stochmfi noldo function

Comments

RafaelZioni

⋅ Nov 8, 2019 12:27 PM

great , you are truly gifted:)

maxonline

⋅ Nov 8, 2019 12:08 PM

thank you

Bhtjydev09

⋅ Jun 18, 2020 7:02 AM

it repaints

Noldo

⋅ Jun 18, 2020 9:17 AM

@Bhtjydev09,
interestingly, there is no code to repaint here.
I will review detailed and practical soon, if necessary, update.

Lambroker

⋅ Jul 23, 2021 2:36 PM

can someone please explain how to use it in case of commodities?

Noldo

⋅ Jul 23, 2021 5:53 PM

@Lambroker, This indicator is a combination of stochastic oscillator and money flow index.
Its use is the same as for moving averages.
Crossovers and crossunders actions will be examined.

Lambroker

⋅ Jul 26, 2021 1:38 PM

@Noldo, Ok, I see the stochastics.
But I am not sure about how to interpret the green and red "+" signs?
Could you please explain what a green + stands for? and what a red + stands for?
thank you

Noldo

⋅ Jul 26, 2021 9:03 PM

@Lambroker, s3.tradingview.com/snapshots/p/pasi3T3l.png

There's no signal on here. Just fast and slow stochastics and there is the main zone, which is free of overbought and oversold zones.

Lambroker

⋅ Jul 27, 2021 10:52 AM

@Noldo, but I am referring to a different indicator. It is called "Open interest Stochastic Money Flow Index OFF Futures"