Money Flow Index. An RSI oscillator that uses trading volumes to determine whether a stock is overbought or oversold
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please allow access thanks
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please access
+1 Reply
I was comparing this to the built in money flow, and I can see that this is literally opposite. Is the green low level overbought and the red high level oversold? The default is normally opposite, no?
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Hi how do I access this?
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Would you mind to explain the calculation behind this or even share source code, since it differs from the regular MFI.
Thanks in advance.
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yatsik01 artorion
@artorion, Have u found out, how's this made?
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andersxyz artorion
@artorion, @yatsik01 The standard MFI (Money Flow Index) looks at the traded volume for the current candle and if the price closes higher, that volume is added to the total. If the price closes lower, the volume from that candle is subtracted from the total. This specific one however, has been altered to be range bound. I am not that great with math and I am not sure how to make it range bound, but the adding and subtracting of volume from a number should be the same still.

Edit: Sorry I think I described On Balance Volume. It should be similar but this might use multiplication? Also, standard built in MFI is also rangebound. OBV is the one that isnt range bound. Sorry :P Please google it for a better answer than what I can give haha
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