Market facilitation index
Price range per unit of volume, with Bill Williams' four colours.
Inputs
| Name | Type | Default |
|---|---|---|
| volume | volume | tick |
Outputs
| Name | Type | Required | Description |
|---|---|---|---|
| mfi | value | Optional | color theme.accent, style columns |
| phase | value | Optional | color theme.accent, style line, width 1 |
- Warm-up
- 1 bars (1 at the defaults)
- Repaints
- No
- Parity
- MetaTrader 5, within 1e-12
Formula
MFI = (high - low) / volume, empty where the volume is 0
phase: 0 green (MFI up, volume up), 1 fade (down, down), 2 fake (MFI up, volume down), 3 squat (MFI down, volume up). The directions start up and change only when the value strictly changes from the previous bar.