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Michael
//--Indicator-End-- -- do not remove this line
range = Prefs( 36 );
_N( ranstr = "("+WriteVal( range, 1.0 )+")" );
Plot( vmfi = MFI(range), "MFI" + ranstr, -8 );
Buy = Cross( vmfi, 20 );
Sell = Cross( 80, vmfi );
"The current value for the MFI" + ranstr + " is " + WriteVal( vmfi );
"The Money Flow Index (MFI) is a momentum indicator that measures the
strength of money flowing in and out of a security. It is related to MFI but
additionaly accounts for volume.\n";
"Tops and Bottoms:";
WriteIf( vmfi > 80, "The MFI is above 80. This is where it usually tops.
The MFI usually forms tops and bottoms before the underlying security.",
WriteIf( vmfi < 20, "The MFI is below 20. This is where it usually bottoms.
The MFI usually forms tops and bottoms before the underlying security.",
"The MFI is not currently in a topping (above 80) or bottoming (below 20)
range. "
+ WriteIf( Cross( 80, vmfi ), "However, the MFI just crossed below 80 from a
topping formation. This is a bearish sign.",
WriteIf( Cross( vmfi, 20 ), "However, the MFI just crossed above 20 from a
bottoming formation. This is a bullish sign.", "" ) ) ) );
bars20 = BarsSince( Buy );
bars80 = BarsSince( Sell );
"\nBuy/Sell signals:";
"A buy or sell signal is generated when the MFI moves out of an
overbought/oversold area. \nThe last signal was a "+
WriteIf( bars20 < bars80, "buy", WriteIf( bars20 > bars80, "sell", "" ))+
WriteVal( Min( bars20, bars80 ), 3.0 ) + " period(s) ago.";
"\nDivergence:";
WriteIf( Close >= HHV( Close, 14 ) AND vmfi < HHV( vmfi, 14 ),
"The security price has set a new 14-day high while the MFI has not. This
is a bearish divergence.",
WriteIf( vmfi >= HHV( vmfi, 14 ) AND Close < HHV( Close, 14 ),
"The MFI has set a new 14-day high while the security price has not. This
is a bullish divergence.",
WriteIf( Close <= LLV( Close, 14 ) AND vmfi > LLV( vmfi, 14 ),
"The security price has set a new 14-day low while the MFI has not. This is
a bullish divergence.",
WriteIf( vmfi <= LLV( vmfi, 14) AND Close > LLV(Close,14),
"The MFI has set a new 14-day low while the security price has not. This is
a bearish divergence.",
"The MFI and price are not diverging." ) ) ) );
"\nThis commentary is not a recommendation to buy or sell. Use at your own
risk.";
Cheers,
Graham
http://groups.msn.com/ASXShareTrading
http://groups.msn.com/FMSAustralia
-----Original Message-----
From: Michael.S.G. [mailto:OzFalcon@xxxxxxxx]
Sent: Monday, 28 July 2003 8:41 AM
To: amibroker@xxxxxxxxxxxxxxx
Subject: [amibroker] MFI Built in Chart
I have accidentaly blasted my comentary for MFI Built in indicator.
Could someone post it for me?
(Is there a place where we can get these from?)
KR
Michael.
Send BUG REPORTS to bugs@xxxxxxxxxxxxx
Send SUGGESTIONS to suggest@xxxxxxxxxxxxx
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