Bill Williams’ Market Facilitation Index. The indicator shows the change in price change per tick.
BW MFI = (HIGH — LOW) / VOLUME
Where
HIGH is the maximum price of the current bar
LOW is the minimal price of the current bar
VOLUME is the volume of the current bar.
Indicator settings
Style
Name | Description |
MFI up Volume up | Selecting the color of the growing MFI on the growing volume. |
MFI down Volume down | Selecting the color of the decline of MFI and trading volume. |
MFI up Volume down | Selecting the color of the growing MFI on the declining trading volume. |
MFI down Volume up | Selecting the color of the decline of MFI and the growth of trading volume. |
Levels
Name | Description |
Levels | Allows the desired number of levels to be added. |
Indicator
Name | Description |
Volumes | Select tick volume or real volume. |
Indicator | Enabling or disabling the indicator display on the chart. |
Name | Enabling or disabling the indicator name display in the information line. |
| Values | Enabling or disabling the indicator value display in the information line. |
| Markers | Enabling or disabling the indicator markers display on the scale. |
| Calculation | Select when the calculation will be performed. |
| Area | Selection of an area to display the indicator. |