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Market Trends need to be confirmed each and every time.
Over the years the Money Flow Index has been a tool to find where the money is flowing
either long or short in market movements.
Long confirmation and false short
Confirming a long entry:
1. Wait for price to close above a previous swing...
I present you the chart oscillator where an oscillator (Stoch or RSI) is plotted
on the chart itself (instead of below the chart)
It is inspired on an idea of @Kablamicus
Instead of having the lines between 0 and 100, here the '0-100' are
- lowest(low, len)
- highest(high, len)
An overbought/oversold and a middle line is derived from these lines
and the...
Combines: Relative Strength (purple) and RSI Stoch (Orange/gray), Money Flow (green) all in one indicator window.
On screen indicator text identifier will read in this order: "RSI/STOCH/MFI V3"
// Changes from original version \\
It was important to bring forth the RSI indicator as the most visually important line and its relationship to the background.
A:...
The signals are based on the Gaussian Channel calculated by Donovan Wall. Thanks also to Kiasaki for Rate of Change code.
Simply going long and short based on Gaussian channel was not consistent enough so I also included an MFI filter. We only go long if Money Flow Index is greater than the last candle (more money is flowing in than out). The opposite for short....
A new version of the indicator Mfi_v2. Added new control parameters.
tt - the averaging period of the volume.
Len - the period for calculating the MPI.
nn-averaging period MFI (blue line). level-critical levels from below and above (black horizontal lines).
Level 0 or 50 - switch between different histogram views with the middle at either level 50 or level 0....
Bill Williams indicator (MFI).
The indicator calculates the range of oscillations per unit volume. In fact, this indicator shows the tick volume or the readiness of the market to move the price.
The indicator is presented as vertical columns or as a line with levels.
Vertical columns are painted in different colors depending on the displacement of the indicator...
![NEOUSDT: MFIww MFI/RSI_v2[wozdux]](https://s3.tradingview.com/s/sYeSObv4_mid.png "MFIww MFI/RSI_v2[wozdux]")
![BTCUSD: MFIww2 MFI/RSI [wozdux]](https://s3.tradingview.com/x/Xb2ys3WX_mid.png "MFIww2 MFI/RSI [wozdux]")