- December 3, 2013
- Posted by: Forex Wiki Team
- Category: FX Ind
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Author: | MetaQuotes (2005.12.13 19:57) | ||
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Market Facilitation Index Technical Indicator (BW MFI) is the indicator which shows the change of price for one tick. Absolute values of the indicator do not mean anything as they are, only indicator changes have sense. Bill Williams emphasizes the interchanging of MFI and volume:
Calculation BW MFI = RANGE*(HIGH-LOW)/VOLUME
Technical Indicator DescriptionFull description of BW MFI is available in the Technical analysis: Market Facilitation Index |
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Is there any way the this indicator can be changed to use the open and the close rather then the high and the low to calculate the MFI? Regards -Llamedos |