EURUSD 1.1736 USDJPY 112.01 USDCAD 1.2788 EURCZK 25.544 USDCZK 21.761 EURPLN 4.2291 USDPLN 3.6034
EURUSD 1.1736 USDJPY 112.01 USDCAD 1.2788 EURCZK 25.544 USDCZK 21.761 EURPLN 4.2291 USDPLN 3.6034

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The Money Flow Index shows the rate at which money is invested and withdrawn from a market

Rule of thumb

The Money Flow Index may also be interpreted in respect to the divergences between the market action and the indicator behaviour

The Money Flow Index is similar in its construction to the Relative Strength Indicator (RSI), however its formula also takes the market volume into consideration.

 

Money Flow Index, MFI, RSI, indicator

 

The indicator reflects the dynamics of  money flow – in other words, how fast is  money coming in and out of the market.

 

The increasing values of the indicator signal  new capital coming into  a market, consequently its decrease will hint at the capital coming in the opposite direction. 

 

The interpretation of the MFI indicator is similar  to the RSI, as it is based on overbought/oversold market condition signals. MFI assumes values in the range between 0 and 100. An MFI oscillator remaining above a  value of 80 indicates an overbought state of  a market and possible retracement. Similarly, the MFI below a value of 20 hints at oversold market conditions.

 

How to use it with MetaTrader 5:

  • Select a chart for which you want the MFI indicator to be calculated.
  • Go to: Insert - Indicators - Volumes - Money Flow Index.
  • For the period box, select the number of periods based on which MFI will be calculated.
  • For the “volumes” parameter in the pop-up box, select “tick” instead of “real”.
  • Money Flow Index will be automatically presented to you by MetaTrader 5.

 

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