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Money Flow Index (MFI)

Description

The Money Flow Index (MFI) was developed by Gene Quong and Avrum Soudack. It uses both price and volume to measure buying and selling pressure.

Formula

Pivot = (High + Low + Close) / 3

Money Flow = Pivot * Volume

Money Ratio = Sum of Positive Money Flow / Sum of Negative Money Flow

MFI = 100 - (100/(1 + Money Ratio))

Example