Bill Williams market facilitation index

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henry1224
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Joined: Wed Feb 24, 2016 12:04 pm

Bill Williams market facilitation index

Post by henry1224 »

# http://forex-indicators.net/bill-williams/mfi

# In his book "Trading Chaos", Williams identified four types of trading sessions: Fakes, Fades, Squats, and Greens.
# Lowered volume with a rising MFI is known as a "Fake." There is no real foundation for market move so the price eventually reverses itself.
# A "Fade" is lowered volume with a declining MFI. The market participants are losing interest so expect the price to move in the opposite direction.
# When volume is up while the MFI is down, the condition is referred to as a "Squat." Movement after the squat gives a clue to future direction.
# When volume and the MFI are both up, the situation is "Green." This is a strong signal to follow the trend.

fakes are 4
fades are 3
Squats are 2
Greens are 1


Mfi:= if(vol > 0 , ((H - L) / vol)* 100 , 0);
Con1:=Ref(Vol,1) > Ref(Vol,2);
Con2:=Ref(MFI,1) > Ref(MFI,2);

BW1:=if(Con1 & Con2,1,0);
BW2:=if(Con1 & Not(Con2),2,0);
BW3:=if(Not(Con1) & Not(Con2),3,0);
BW4:=if(Not(Con1) & Con2,4,0);
FILLRGN(BW1 == 1,0,1),ExtendLR,Brush#FF008000;
FILLRGN(BW2 == 2,0,2),ExtendLR,Brush#FF1E90FF;
FILLRGN(BW3 == 3,0,3),ExtendLR,Brush#FFFFFF00;
FILLRGN(BW4 == 4,0,4),ExtendLR,Brush#FFFF0000;
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