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Thanks for the reply. What is great about Amibroker is experimentation with a combination of different indicators. Also the insight and contribution of the Amibroker group. 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@xxxxxxcom> 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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