|
MetaStock
Formula - Money
Flow Index
rev. 01/06/97
Taken from Stocks
& Commodities, V. 12:8 (321-324): SIDEBAR: The
Money Flow Index
"The money
flow index (MFI) is a volume-weighted form of the
relative strength index (RSI). Instead of using up
closes versus down closes, the MFI compares
today's average price to yesterday's average price
and then weighs the average price by volume to
calculate money flow (MF). The ratio of the summed
positive and negative money flows are then
normalized to be on a scale of zero to 100."
Here are the MetaStock™ formulas for the Money
Flow Index:
Positive
Money Flow:
sum ( if ( typ( ) ,> ,ref ( typ ( )
,-1 ) ,V * typ ( ) ,0 ) , PERIODS) |
Negative
Money Flow:
sum ( if ( typ( ) ,< ,ref ( typ( )
,-1) ,V * typ ( ) * -1 ,0 ) , PERIODS) |
Money
Flow Ratio:
fml ( "Positive Money Flow" )
/ fml ( "Negative Money Flow"
) |
Money
Flow Index:
100 - ( 100 / ( 1 + fml ( "Money
Flow Ratio" ) ) ) |
***The time
periods are controlled by PERIODS in the Positive
and Negative Money Flow formulas.
|
