This script includes MACD histogram plus MFI in four states
All backgrounds are compared to previous bar in +/- 10%
1. Green (green) + Volume + Range (++)
2. Fading (yellow) - Volume - Range (--)
3. False (gray) - Volume + Range (-+)
4. Crouching (red) + Volume - Range (+-)
This script reads price and volume information for the top 5 coins (on 9 exchanges, a total of 29 pairs), calculates the cummulative upvolume and downvolume according to the Money Flow (MFI) formula, and shows upvolume and downvolume separately on the chart as a green and a red line.
The coins used are BTC, ETH, LTC, XRP and EOS. They are the top 5 coins by daily...
A new version of the indicator Mfi_v2. Added new control parameters.
tt - the averaging period of the volume.
Len - the period for calculating the MPI.
nn-averaging period MFI (blue line). level-critical levels from below and above (black horizontal lines).
Level 0 or 50 - switch between different histogram views with the middle at either level 50 or level 0....
The Market Facilitation Index is an indicator that relates price range to
volume and measures the efficency of price movement. Use the indicator to
determine if the market is trending. If the Market Facilitation Index increased,
then the market is facilitating trade and is more efficient, implying that the
market is trending. If the Market Facilitation...
Plot where RSI or MFI is in its Bollinger Bands . Can be used in many different way: as a trend indicator (above below 0.5), part of a trend following strategy when crossing above 0 (resume bullish trend ) or crossing below 1 (resume bearish trend ), also useful for divergences, etc...
I allowed myself to take a piece of code of one of the indicators MFI present on Tradingview for the added to a RSI!
I made this srcipt to avoid cluttering the screen, so we can see the oversold / overbought of the MFI without having any additional indicator
The normal MFI script use an RSI in the formula so the quantity of movments are not visible, this script allows you to see how much volume is being trade at the moment, so you can detect unusual levels, but you will no be allowed to see the RSI (0-100)* so I suggest to use this script with a normal MFI
+ Normal MFI length (14)
+ Green bars show the...