Hello chic195a,
MFI is a built-in indicator in AmiBroker.
If you go to the charts tab in the workspace you can find in in the
idicators list.
Right click on the formula >> click on edit >> and you will be able to
read the formula behind the indicator.
No, there is no explanation of it in AB (it's not included in the
manual in the Indicator section).
It's a volume indicator so you can use it with any type of price chart.
Here's a breakdown explanation to get you started with AFL.
//IN AFL YOU CAN WRITE YOUR OWN FUNCTIONS
//THIS IS A SIMPLE EXAMPLE
function MarketFacilitationIndex()
{
return ( High - Low )/Volume;
}
//LATER YOU CAN RUN THE FUNCTION CODE BY CALLING IT (REFERRNG TO IT BY
NAME)
mfac = MarketFacilitationIndex();
rm = ROC( mfac, 1 );
rv = ROC( Volume, 1 );
//COLORS ARE THEN APPLIED TO THE INDICATORS TO HELP PROVIDE
//VISUAL CLUES WHEN THEY ARE PLOTTED
Color = IIf( rm > 0 AND rv > 0, colorGreen,
IIf( rm < 0 AND rv < 0, colorBlue,
IIf( rm > 0 AND rv < 0, colorGrey40,
IIf( rm < 0 AND rv > 0, colorRed,
colorLightGrey ) ) ) );
Plot( mfac, _DEFAULT_NAME(), Color, ParamStyle("Style", styleHistogram
| styleThick, maskHistogram ) );
So the colors show what the current state of the indicator is -
differentiating between the four possible conditions (rm is either up
or down and rv is either up or down compared to the previous bar).
brian_z
--- In [email protected], "chic195a" <[EMAIL PROTECTED]> wrote:
>
>
> Can someone explain what the color bars in market facitation index
mean
> ? There seems to be 3 colors Red, Green, Blue involved here. Does
this
> indicator need to used with candle sticks only?
>
Color = IIf( rm > 0 AND rv > 0, colorGreen,
IIf( rm < 0 AND rv < 0, colorBlue,
IIf( rm > 0 AND rv < 0, colorGrey40,
IIf( rm < 0 AND rv > 0, colorRed,
colorLightGrey ) ) ) );
> I've read Technical Analysis by Achelis however Amibroker may treat
the
> info in a diferent fashion. Also can one change the color in the color
> bars. I'm not familar with AFL and never changed any infor, technical
> indicators, or formula's. So please explain so a novice could
> understand. Is there a site on Amibroker that explains in depth what
> these and other specific indicators mean?
>
> Thank you
>
