View source for Mkt Facilitation Idx

=== Definition === 

The Market Facilitation Index is an indicator that measures the effectiveness of price movement for each bar, using highs, lows and volume. <br>
''Developed by Bill Williams.'' <br>
<br>
The calculation is done in the following way: MFI = (High - Low) / Volume. The index works on all timeframes and in all markets and helps traders decide if a trend is strong enough to trade by showing 4 conditions:
<br>
1) Green: both the MFI and volume are rising<br>
2) Fade: both MFI and volume are falling<br>
3) Fake: the MFI is rising and volume is falling<br>
4) Squat: the MFI is falling and volume is rising <br>

=== Default Inputs=== 

'''AlertLength'''  sets the number of recent bars used to determine an extreme value of the indicator, 14 by default.


[[Category:Pre-built Indicators]]