MONEY FLOW INDEX - MFI
An indicator used to figure out the conviction in a present trend by evaluating the price and volume of an underlying security. It measures the sturdiness of money coming in and out of a given security, and can be used to forecast a trend reversal. It is a range bound from 0 to 100 and is interpreted like the RSI.
This is computed by using the formula below:
Typical Price = (high + low + close) / 3 Money Flow = typical price x volume Money Ratio = positive money flow / negative money flow MFI = positive money flow / negative money flow x 100
Positive money values are generated when the normal price is higher than the previous usual price value. The total positive money over the number of periods used to make the indicator yields the positive money flow, which is the values
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