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On Sun, 11 Jun 2000 18:52:12 -0400, you wrote:
> does anyone have the code for this..thanks...
All these are available on www. equis.com
Market Facilitation Index - Gary Hoover, TASC 6/1994, Equis rev.
01/06/97
Taken from TASC, v. 12:6 (253-254): The Market Facilitation Index by
Gary Hoover
"Applying technical analysis to developing trading signals begins with
the investigation of price movement and often incorporates volume
studies to improve trading accuracy. The Market Facilitation Index
(MFI) is one indicator that synthesizes both price and volume
analysis. The MFI is the ratio of the current bar's range (high-low)
to the bar's volume.
The MFI is designed to gauge the efficiency of price movement. The
efficiency is measured by comparing the current bar's MFI value to the
previous bar's MFI value. If the MFI increased, then the market is
facilitating trade and is more efficient, implying that the market is
trending. If the MFI decreased, then the market is becoming less
efficient, which may indicate a trading range is developing that may
be a trend reversal…."
Range:
High-Low
MFI:
Fml("Range") / Volume
Efficiency:
If(Fml("MFI"),>,Ref(Fml("MFI"),-1),1,
If(Fml("MFI"),<,Ref(Fml("MFI"),-1),-1,
If(Fml("MFI"),=,Ref(Fml("MFI"),-1),0,0)))
Where:
+1 = increase
-1 = decrease
0 = unchanged
Market Facilitation Comparison:
If(V,>,Ref(V,-1),If(Fml("MFI"),>,Ref(Fml("MFI"),-1)
,1,If(Fml("MFI"),<,Ref(Fml("MFI"),-1),2,0)),If(V,<
,Ref(V,-1),If(Fml("MFI"),>,Ref(Fml("MFI"),-1),3,If(
Fml("MFI"),<,Ref(Fml("MFI"),-1),4,0)),0))
Where:
1 = +,+
2 = +,-
3 = -,+
4 = -,-
=======================================================
Market Facilitation Index Expert Advisor - Equis rev. 02/24/97
In the August 1996 Stocks & Commodities, an article by Thom Hartle
titled "The Market Facilitation Index" showed how to color bars to
identify chart patterns based on changes in the market facilitation
index and volume. Here is how to do this in MetaStock 6.0's new Expert
Advisor.
The first step is to create a new expert by choosing Expert Advisor
from MetaStock's Tool menu, and then choose New from the Expert
Advisor. Name the expert "Market Facilitation Index", enter any notes
you like and then click on the Highlights tab. Enter the following
Highlights by choosing New, the color and then entering the following
formulas:
Green Bar (Green Bar)
ROC((H-L)/V,1,$) > 0 AND ROC(V,1,$) > 0
Fade Bar (Blue Bar)
ROC((H-L)/V,1,$) < 0 AND ROC(V,1,$) < 0
Fake Bar (Dk Gray Bar)
ROC((H-L)/V,1,$) > 0 AND ROC(V,1,$) < 0
Squat Bar (Red Bar)
ROC((H-L)/V,1,$) < 0 AND ROC(V,1,$) > 0
After you have entered the four highlights click OK to finish editing
the expert's properties. You can now right-click on the heading or
background of any chart. Next select Expert Advisor and then Attach
from the Chart shortcut menu. Attach the market facilitation index
expert, and it will highlight the four market facilitation patterns
that were discussed in Hartle's article. Note: You can save a chart as
a template with this expert attached, and then any time you apply the
template to a chart the market facilitation index expert will
automatically attach to the chart.
-÷ Chris ß ÷-
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