Money Flow Index

mfi

Function Name: mfi

Tags: None

Category: Other

The Money Flow Index is a momentum indicator used to measure the strength of money flowing in and out of an asset. It calculates an indexed value based on price and volume for the number of bars specified in the input Period. Calculations are made for each bar with an average price greater than the previous bar and for each bar with an average price less than the previous bar. These values are then indexed to calculate and plot the Money Flow. The use of both price and volume provides a different perspective from price or volume alone. The Money Flow indicator tends to show dramatic oscillations and can be useful in identifying overbought and oversold conditions.

 

Link:       http://www.investopedia.com/terms/m/mfi.asp

 

Parameters

period

 

Default Value: 14  |  Minimum: 1  |  Maximum: 9999

 

Type: Numeric

upperLevel

 

Default Value: 70  |  Minimum: 0  |  Maximum: 100

 

Type: Numeric

lowerLevel

 

Default Value: 30  |  Minimum: 0  |  Maximum: 100

 

Type: Numeric