Description
The Money Flow Index (MFI) is a momentum indicator illustrating the strength of money flowing into and out of a security measured on a 0-100 scale.
The Money Flow Index is calculated as a ratio between the total Money Flow over periods having the Typical Price raised, and the total Money Flow over all periods.
A stock is considered "overbought" if the MFI indicator reaches 80 and above (a bearish reading). A bullish reading of 20 and below suggests that the stock is "oversold".
Input Parameters
| Parameter | Description |
|---|---|
over sold
|
The oversold level. |
over bought
|
The overbought level. |
length
|
The number of bars used to calculate the Money Flow Index. |
moving avg length
|
The number of bars used to calculate the moving average of MFI. |
Plots
| Plot | Description |
|---|---|
MoneyFlowIndex
|
The Money Flow Index. |
OverBought
|
The overbought level. |
OverSold
|
The oversold level. |
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.