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Twiggs money flow weekly for Amibroker (AFL)
kaiji
about 14 years ago
Amibroker (AFL)

Rating:
5 / 5 (Votes 1)
Tags:
oscillator, amibroker, weekly

I added the weekly time frame to the code byStock_Alchemist Rayloom [at] yahoo.com
This weekly time frame can be drop&drag onto the Twiggs Money Flow in the daily time frame

Twiggs Money Flow is a derivation of Chaikin Money Flow indicator, which is in turn derived from the Accumulation Distribution line. However, Twiggs Money Flow makes two basic improvements to the Chaikin Money Flow formula:

1-To solve the problem with gaps, Twiggs Money Flow uses true range, rather than daily Highs minus Lows.

2-And, rather than a simple-moving-average-type formula, Twiggs Money Flow applies exponential smoothing, using the method employed by Welles Wilder for many of his indicators.

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Indicator / Formula

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/* 
I added the weekly time frame to the code byStock_Alchemist Rayloom [at]
yahoo.com
This weekly time frame can be drop&drag onto the Twiggs Money Flow in the daily
time frame. The values appear to be right
but I have not been able to get rid of the step look.

Twiggs Money Flow is a derivation of Chaikin Money Flow indicator, which is in
turn derived from the Accumulation Distribution line. 
However, Twiggs Money Flow makes two basic improvements to the Chaikin Money
Flow formula:
1-To solve the problem with gaps, Twiggs Money Flow uses true range, rather
than daily Highs minus Lows.  
2-And, rather than a simple-moving-average-type formula, Twiggs Money Flow
applies exponential smoothing, using the method employed by Welles Wilder for
many of his indicators. 



 */
TimeFrameSet( inWeekly );
periods = Param( "Periods", 20, 5, 200, 1 );

TRH=Max(Ref(C,-1),H);
TRL=Min(Ref(C,-1),L);
TR=TRH-TRL; 
ADV=V*((C-TRL)-(TRH-C))/ IIf(TR==0,9999999,TR);
WV=V+(Ref(V,-1)*0);
SmV= Wilders(WV,periods);
SmA= Wilders(ADV,periods);
TMF= IIf(SmV==0,0,SmA/SmV);

TimeFrameRestore(); 

Plot(TimeFrameExpand( tmf, inWeekly,expandLast), "TMF", ParamColor( "TMF color", colorCycle ) ,ParamStyle("Style",styleLine,maskAll),Null,Null,0 );
Plot(0,"Centre Line",ParamColor( "Centre Line Color", colorCycle ),1 );

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