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    Money Flow Index (MFI)
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      Money Flow Index (MFI)

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        Article summary

        Money Flow Index (MFI) is a momentum oscillator that measures the ratio of money flowing into and out of a security over a specified period. MFI is similar to Relative Strength Index (RSI) but unlike RSI, it incorporates not only a Typical Price but also volume data. The index is bounded to the 0 to +100 scale, where the readings above 80 indicate overbought (bearish signal) and the readings below 20 suggest oversold (bullish signal) prices.

        1. Money Flow = TP x Volume
        2. Money Ratio = Positive Money Flow / Negative Money Flow
        3. Money Index Flow = 100 - [100 / (1 + Money Ratio)]

        where:
        TP – Typical Price
        Positive Money Flow – today's Typical Price is greater than yesterday's Typical price; sum of the positive money over the specified period
        Negative Money Flow – today's Typical Price is less than yesterday's Typical price; sum of the negative money over the specified period

        Kairi Relative IndexMoney Flow Index

        INPUTS

        InputDescription
        LengthThe number of bars used to calculate the Movey Flow Index
        OverboughtThe number to fix the overbought level at
        OversoldThe number to fix the oversold level at

        PLOTS

        The plot renders the data you are working with on the chart. You can show/hide a plot by clicking the corresponding item in the settings. Every plot has a set of basic settings that you can change: color, weight, and type.

        PlotDescription
        MFIdxThe Money Flow Index plot
        OverBoughtThe overbought level
        OverSoldThe ovelsold level
        Color

        Click the color rectangle under the plot's name to open the palette. Use the slider at the bottom to set the opacity of the color.

        Palette

        To create a custom color:

        1. Clickto open the color picker
        2. By using the slider at the bottom, adjust the main color
        3. Then, set a shade for the main color on the palette

        The custom-created colors are added to your palette. To remove a custom color, drag it out of the palette.

        Weight
        Change the value (in px) to adjust the thickness of the plot.
        Type
        The following plot types are available:
        • Linear. The plot is displayed as a line.
        • Column. The plot is displayed as a histogram.
        • Difference. The plot is displayed as a line which represents the difference between High and Low prices of the bar.
        • Points. The plot is displayed as points.
        • Text above candle. The plot is displayed as the price labels above candles on the chart.
        • Text below candle. The plot is displayed as the price labels below candles on the chart.
        • Triangle above candle. The plot is displayed as triangles above candles on the chart.
        • Color candle. The candles on candle-type charts are highlighted with specified colors.

        OVERLAYING

        Check Overlaying to display the indicator on the chart. Otherwise, the indicator is shown in a study pane down below.

        Note: To reset the settings, click Restore to Default next to the SETTINGS: INDICATOR'S TITLE
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