OmniTrader Professional Forum : OmniLanguage Discussion : Money Flow Index with trend change colours

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OmniTrader Professional Forum OmniLanguage Discussion Money Flow Index with trend change colours		Last Activity 10/5/2024 12:51 AM 2 replies, 1645 viewings

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Manfred

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Subject : Money Flow Index with trend change colours
Posted : 1/12/2019 8:45 AM
Post #30244

Was working with highlighting Money Flow Index levels today and had a go using Colorcharts but that looked like an xmas tree to my eyes, so ended up coding an indicator instead. You can do it more simply than I've done using the built-in OT MFI() indicator and some If Then statements for the colour changes if you wish.

Attached file : MoneyFlowIndex2.txt (3KB - 253 downloads)

Attached file : ChartTemplate-MFI.otd (168KB - 243 downloads)

Attached file : MFIcoloured_Omnitrader.png (311KB - 260 downloads)

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Jim Dean

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Subject : RE: Money Flow Index with trend change colours
Posted : 1/12/2019 9:15 AM
Post #30245 - In reply to #30244

This is a better approach than CC's ... CC's, albeit easy to use, are responsible for many of the "headaches" that occasionally appear to "lock up" custom OT indicators. Reasons are messy to explain, but point is that using OLang to do the job is always a better course.

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wolf

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Subject : RE: Money Flow Index with trend change colours
Posted : 1/13/2019 12:40 AM
Post #30248 - In reply to #30245

Hello together,
I found an OL coding by T. Heglet for an MoneyFlow Oscillator based on an article of TASC 2015 OCT. Please see from the attachemt an updated of Manfreds MFI Chart template in cluding this MFI Oscillator
Wolfgang

[Edited by wolf on 1/13/2019 12:47 AM]

Attached file : indMoneyFlowIndicator.PNG (137KB - 262 downloads)

Attached file : indMoneyFlowIndicator.txt (1KB - 255 downloads)

Attached file : TASC 2015 OCT Money Flow Oscillator.docx (1569KB - 251 downloads)

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