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Twiggs Money Flow for Amibroker (AFL)
kaiji
about 14 years ago
Amibroker (AFL)

Rating:
4 / 5 (Votes 3)
Tags:

Twiggs Money Flow is a derivation of Chaikin Money Flow indicator, which is in turn derived from the Accumulation Distribution line. However, Twiggs Money Flow makes two basic improvements to the Chaikin Money Flow formula:

To solve the problem with gaps, Twiggs Money Flow uses true range, rather than daily Highs minus Lows. And, rather than a simple-moving-average-type formula, Twiggs Money Flow applies exponential smoothing, using the method employed by Welles Wilder for many of his indicators.

To know more, please go here

Indicator / Formula

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_SECTION_BEGIN("Twiggs Money Flow");
/* 
Twiggs Money Flow is a derivation of Chaikin Money Flow indicator, which is in
turn derived from the Accumulation Distribution line. 
However, Twiggs Money Flow makes two basic improvements to the Chaikin Money
Flow formula:
1-To solve the problem with gaps, Twiggs Money Flow uses true range, rather
than daily Highs minus Lows.  
2-And, rather than a simple-moving-average-type formula, Twiggs Money Flow
applies exponential smoothing, using the method employed by Welles Wilder for
many of his indicators. 
 */

periods = Param( "Periods", 21, 5, 200, 1 );
TRH=Max(Ref(C,-1),H);
TRL=Min(Ref(C,-1),L);
TR=TRH-TRL; 
ADV=V*((C-TRL)-(TRH-C))/ IIf(TR==0,9999999,TR);
WV=V+(Ref(V,-1)*0);
SmV= Wilders(WV,periods);
SmA= Wilders(ADV,periods);

TMF= IIf(SmV==0,0,SmA/SmV);
Plot( TMF, _DEFAULT_NAME(), ParamColor("color", colorCycle ),
ParamStyle("Style") );
_SECTION_END();

5 comments

1. Pascal SAMSON

Combined to the Gravity Center (of John Ehler for instance), the Money flow is an excellent way to determine in which direction prices will go.
Thank you for this formula.

2. cnbondre

Thanks a lot Pascal SAMSON for this valuable info.
cnbondre

3. morgen

Very good!

4. kv_maligi

Please post here how to use this indicator.

Thanks

5. deep_pocket

Hello Sir…
Can you make Twiggs Money Flow to MT4/MQL4 formula…
Thanks

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