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MoneyFlow

Article/Author: Unknown

Download: EXPERTMONEYFLOW.ELA

Category: Expert Commentary

Description: This Function returns MoneyFlow Expert Commentary

EasyLanguage Code:
INPUTS: P1( NUMERICSERIES );

VARIABLES : MFHIGH(0), MFLOW(0), ASSETHIGH(0), ASSETLOW(0), MFAVG(0), AVG(0), STRING1("");

MFHIGH=0;
MFLOW=0;
ASSETHIGH=0;
ASSETLOW=0;
STRING1="";
IF HIGHESTBAR(P1, 9) = 0 THEN
MFHIGH=1;
IF LOWESTBAR(P1, 9) = 0 THEN
MFLOW=1;
IF HIGHESTBAR(HIGH, 9) = 0 THEN
ASSETHIGH=1;
IF LOWESTBAR(LOW, 9) = 0 THEN
ASSETLOW=1;
MFAVG = AVERAGE(P1, 9);
AVG = AVERAGE(CLOSE, 9);

IF CHECKCOMMENTARY THEN BEGIN
STRING1=STRING1+"CONVENTIONAL INTERPRETATION: ";
STRING1=STRING1+"\PBMONEY FLOW\PE ISSUES A SIGNAL WHEN A NEW";
STRING1=STRING1+" PERIOD HIGH OR LOW IS REACHED IN THE ";
STRING1=STRING1+"MARKET WHICH IS NOT CONFIRMED BY A SIMILAR \PBNEW HIGH\PE IN THE";
STRING1=STRING1+" MONEY FLOW INDEX.";

IF ASSETHIGH = 1 AND MFHIGH = 1 THEN BEGIN
STRING1=STRING1+" THE MARKET REACHED A 9 BAR \PBNEW HIGH\PE HERE. HOWEVER, THE MOVE WAS ";
STRING1=STRING1+"ACCOMPANIED BY A SIMILAR \PBNEW HIGH\PE IN MONEY FLOW. THEREFORE NO ";
STRING1=STRING1+"SIGNAL IS GENERATED HERE.";
END
ELSE
IF ASSETHIGH = 1 AND MFHIGH = 0 THEN BEGIN
STRING1=STRING1+" THE MARKET REACHED A 9 BAR \PBNEW HIGH\PE HERE WHICH WAS ";
STRING1=STRING1+"NOT CONFIRMED BY MONEY FLOW. A \PBBEARISH\PE OUTLOOK IS APPROPRIATE";
STRING1=STRING1+" HERE.";
END
ELSE
IF ASSETLOW=1 AND MFLOW=1 THEN BEGIN
STRING1=STRING1+" THE MARKET REACHED A 9 BAR \PBNEW LOW\PE HERE. HOWEVER, THE MOVE WAS ";
STRING1=STRING1+"ACCOMPANIED BY A SIMILAR \PBNEW LOW\PE IN MONEY FLOW. THEREFORE NO ";
STRING1=STRING1+"SIGNAL IS GENERATED HERE.";
END
ELSE
IF ASSETLOW=1 AND MFLOW=0 THEN BEGIN
STRING1=STRING1+" THE MARKET REACHED A 9 BAR \PBNEW LOW\PE HERE WHICH WAS ";
STRING1=STRING1+"NOT CONFIRMED BY MONEY FLOW. A \PBBULLISH\PE OUTLOOK IS APPROPRIATE";
STRING1=STRING1+" HERE.";
END;

STRING1=STRING1+NEWLINE+NEWLINE;
STRING1=STRING1+"ADDITIONAL ANALYSIS: ";

IF MFAVG>MFAVG[1] AND MFAVG[1]>MFAVG[2] AND AVG < AVG[1] AND AVG[1] < AVG[2] THEN BEGIN
STRING1=STRING1+"IN ADDITION TO EXAMINING DIVERGENCES AT EXTREME POINTS, SUCH AS";
STRING1=STRING1+" NEW HIGHS OR NEW LOWS, DIVERGENCES IN TREND CAN ALSO SIGNAL A \PBREVERSAL\PE.";
STRING1=STRING1+" HERE, BASED ON THE DIRECTION OF A 9 BAR \PBMOVING AVERAGE\PE, MONEY FLOW IS";
STRING1=STRING1+" TRENDING UP DESPITE A DECLINE IN THE MARKET TREND. THIS SUGGESTS";
STRING1=STRING1+" A \PBBULLISH\PE"+" REVERSAL WITHIN THE NEXT FEW BARS.";
END
ELSE
IF MFAVGAND MFAVG[1]AND AVG > AVG[1] AND AVG[1] > AVG[2] THEN BEGIN
STRING1=STRING1+"IN ADDITION TO EXAMINING DIVERGENCES AT EXTREME POINTS, SUCH AS";
STRING1=STRING1+" NEW HIGHS OR NEW LOWS, DIVERGENCES IN TREND CAN ALSO SIGNAL A \PBREVERSAL\PE.";
STRING1=STRING1+" HERE, BASED ON THE DIRECTION OF A 9 BAR \PBMOVING AVERAGE\PE, MONEY FLOW IS";
STRING1=STRING1+" TRENDING DOWN DESPITE AN ADVANCE IN THE MARKET TREND. THIS";
STRING1=STRING1+" SUGGESTS A \PBBEARISH\PE REVERSAL WITHIN THE NEXT FEW BARS.";
END
ELSE
STRING1=STRING1+"NO ADDITIONAL ANALYSIS.";
END;

EXPERTMONEYFLOW = STRING1;