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Now you are getting into "philosophy." But FWIW
I never use any indicator in a "vacuum" but only in conjunction with others
(being sure that they are not all of the same "class" such as momentum, trend,
etc.) and charting techniques, including EW, Fibonacci patterns, etc., requiring
a confluence of signals across various time periods. As for your question
about the Williams indicators, I have
not found the Market Facilitation Index to be particularly useful by
itself. However, when combined with his other indicators things look
better but even then other stuff should confirm - at least that is the way that
I use it. If you are interested in Williams approach I suggest that
you pick up his book or Google for overview articles.
Bill
----- Original Message -----
Sent: Friday, December 07, 2007 1:28
AM
Subject: Re: [amibroker] Market
Facitation Index
When I received a response from Brian which was very helpful, the
thought of similarities between money flow and market facilitaor index
didn't even enter my mind. I did use money flow in some of my chart indicators
and market facilitator in others. but didn't realize the connection. I'm
trying to use combinations from the existing charts to create enter and
exits points for some stocks..
Under Charts there is the Money Flow Index and the Market
Facilitation Index. The Money Flow, index, from what
I gather, seems to mean that money flow is dependent upon
actual price increase or decrease,and thus not independant true money
flow. The money flow index takes the H+L+C / 3 X Vol.Whereas
the Facilitator uses H - L / Vol. ACHELIS doesn't explain
about alligator, Ao, Ac.mean,
Do you think there is any merit in one indicator here over the
other, or are both ineffective? Do you ever use these indicators in
conjunction with other Williams indicators? { Please excuse my ignorance here
as I have belonged to Amibroker for over 2 years but due a lengthy illness
have not had inclination to pursue Amibroker in
depth]
Thanks
wavemechanic <fimdot@xxxxxxxxx> wrote:
Apples and oranges. AB's MFI() is not the
market facilitation index but rather a money flow index of which there
are several versions. I assume that the Acheles article that you
read discussedthe interpretation of these bars (breakout, fake, fade,
and squat) and their use with the other Williams indicators (alligator, AO,
and AC) so you should be all set.
Bill
----- Original Message -----
Sent: Wednesday, December 05, 2007
1:14 PM
Subject: [amibroker] Market
Facitation Index
Can someone explain what the color bars in market
facitation index mean ? There seems to be 3 colors Red, Green,
Blue involved here. Does this indicator need to used with candle
sticks only?
I've read Technical Analysis by Achelis however
Amibroker may treat the info in a diferent fashion. Also can one change
the color in the color bars. I'm not familar with AFL and never changed
any infor, technical indicators, or formula's. So please explain so a
novice could understand. Is there a site on Amibroker that explains in
depth what these and other specific indicators mean?
Thank
you
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