Code Amibroker Indicators

Money Flow Index (MFI) with Color & Clip Area for Amibroker

by admin 1 min read 0 comments

Key Takeaways

  • Market conditions and their impact on trading decisions
  • Key levels and price action analysis
  • Risk management strategies for this setup

The money flow index (MFI) is an oscillator that ranges from 0 to 100. It is used to show the money flow (an approximation of the dollar value of a day’s trading) over several days.

\"\"

SetChartOptions(0,0,ChartGrid50,0,100);
 
periods = Param(\"Periods\", 14, 1, 200, 1);
Levelup = Param(\"Level up\",80,1,100,1);
Leveldown = Param(\"Level down\",20,1,100,1);
 
z = MFI(periods);
 
LineColor = ParamColor(\"Line Color\", colorLightBlue );
LineStyle = ParamStyle(\"Line Style\", styleLine);
LevelupColor = ParamColor(\"Overbought Color\",colorRed);
LeveldownColor = ParamColor(\"Oversold Color\",colorGreen);
 
Plot(z, \"MFI (\" + periods + \")\", LineColor , LineStyle);
Plot(Levelup,\"Level UP \",LevelupColor,styleDashed);
Plot(Leveldown,\"Level Down\",LeveldownColor,styleDashed);
PlotOHLC(z,z,50,z,\"\",IIf(z>50, LevelupColor, LeveldownColor), styleCloud | styleNoLabel | styleClipMinMax, Leveldown, Levelup);

Trading Data Snapshot

Always verify current market conditions before executing any trade. Past performance does not guarantee future results.

A
admin
Trading analyst and market commentator with expertise in technical analysis, price action, and risk management. Dedicated to helping traders make informed decisions.

Leave a Reply

Your email address will not be published. Required fields are marked *