MFI (Function)

image\trumpet2.gif Disclaimer

The MFI function returns the Market Facilitation Index value.

Syntax

MFI(AnyVol)

Returns (Double)

A numeric value containing MFI for the current bar.

Parameters

Name

Type

Description

AnyVol

Numeric

Sets the volume value (Volume or Ticks) to use 

Remarks

The AnyVol input parameter should be set to Volume when referencing daily data and to Ticks when referencing tick/minute data.

The formula for MFI is:

  MFI = Range / AnyVol

Please refer to the discussion on the Range.

Example

Plots MFI for intra-day or tick data.

Plot1(MFI(Ticks),"MFI");