Market Facilitation Index??????

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Anyone have this indicator for M4? update....Forget it!!!!!!!! I already have it... DUH!!!!! lol!

 

What is this indicator about?

 

I have these two indicators and not sure about.

Files:
mindex.mq4  2 kb
mprofile.mq4  3 kb
market.gif  22 kb
 

I think the MFI measures how efficiently market is moving relative to volume. I think it's a Bill William's (chaos guy) thing. He looks for 'short' price bars on relatively high volume as indication of possible turning point (squats). I think the formula is pip range divided by volume.

I think.... ;-)

 

Good Call Thru! your on the money with that one!

 

good usd index indicators!

thank u very much!

 

Qbert:

Would you mind posting the indicator.. or linking it?

Thru

 

Ok here it is

I hope I did this right

Files:
bw_mfi.mq4  7 kb
 

Thanks, Qbert, much appreciated!

 

No problem

No Prob! In case anyone wants his book it in the Doc section. I found his way at dealing with the markets very profitable! I will post his second book " New trading dimensions" after this post in the Doc section. Happy Trading and learning all!

Here's the Link to Trading Chaos EBook by Williams. http://www.badongo.com/file.php?file=Trading+Chaos+e-book+__2005-12-17_trading+chaos+-+bill.pdf

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