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Market Facilitation Index for Amibroker (AFL)
Rating:
5 / 5 (Votes 1)
Tags:
oscillator, amibroker
Market Facilitation Index Technical Indicator (BW MFI) is the indicator which shows the change of price for one tick. Absolute values of the indicator do not mean anything as they are, only indicator changes have sense. Bill Williams emphasizes the interchanging of MFI and volume:
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Indicator / Formula
Copy & Paste Friendly
function MarketFacilitationIndex()
{
return ( High - Low )/Volume;
}
mfac = MarketFacilitationIndex();
rm = ROC( mfac, 1 );
rv = ROC( Volume, 1 );
Color = IIf( rm > 0 AND rv > 0, colorGreen,
IIf( rm < 0 AND rv < 0, colorBlue,
IIf( rm > 0 AND rv < 0, colorGrey40,
IIf( rm < 0 AND rv > 0, colorRed, colorLightGrey ) ) ) );
Plot( mfac, _DEFAULT_NAME(), Color, ParamStyle("Style", styleHistogram | styleThick, maskHistogram ) );0 comments
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