Money Flow Index Special

3일 전

This visual setup helps traders quickly assess the market’s money flow and potential reversal points.

Here’s a simple explanation of the script:

2. Calculates the Money Flow Index (MFI) using a user-defined period (default is 14).
   
3. Plots the MFI as a continuous line with dots at each data point:
   
4. Green dots indicate the MFI has increased compared to the previous value.
   
5. Orange dots indicate the MFI is the same or has decreased.
   
6. Displays horizontal lines at 80 (Overbought), 50 (Middle Band), and 20 (Oversold) to help identify key levels.
   
7. Highlights the background in light yellow whenever the MFI is below 50, making it easy to spot lower momentum areas.