Money Flow

Definition

The Money Flow indicator calculates an indexed value based on price and volume for the number of bars specified in the input Length.
Positive Money Flow is calculated and summed for each of the last Length number of bars with an average price greater than the previous bar and then divided by the Money Flow for all the bars specified in Length.
Using both price and volume in the calculation allows to see a different perspective as compared to using price or volume only.

Default Inputs

Length - number of bars included into calculation

AlertLength - number of bars included into alert calculation

OverSold - Money Flow value to be considered oversold

OverBought - Money Flow value to be considered overbought

OverSColor - oversold values plot color
OverBColor - overbought values plot color

Plots

The plots will be desplayed in a separate subschart.

MoneyFlow - plots the Money Flow line

OverBot - plots the overbought reference line

OverSld - plots the oversold reference line