368
edits
Changes
no edit summary
=== 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]]