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Market Facilitation Index for Amibroker (AFL)
almost 14 years ago
Amibroker (AFL)

5 / 5 (Votes 1)
oscillator, amibroker

Market Facilitation Index Technical Indicator (BW MFI) is the indicator which shows the change of price for one tick. Absolute values of the indicator do not mean anything as they are, only indicator changes have sense. Bill Williams emphasizes the interchanging of MFI and volume:

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Indicator / Formula

Copy & Paste Friendly
function MarketFacilitationIndex()
  return ( High - Low )/Volume;

mfac = MarketFacilitationIndex();
rm = ROC( mfac, 1 );
rv = ROC( Volume, 1 );

Color = IIf( rm > 0 AND rv > 0, colorGreen,
		 IIf( rm < 0 AND rv < 0, colorBlue,
		 IIf( rm > 0 AND rv < 0, colorGrey40,
		 IIf( rm < 0 AND rv > 0, colorRed, colorLightGrey ) ) ) );

Plot( mfac, _DEFAULT_NAME(), Color, ParamStyle("Style", styleHistogram | styleThick, maskHistogram ) );


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