ixion700 wrote: Mon Nov 27, 2023 9:19 pm Hello Dear coders @Mrtools @Kvak . Could you change this indicator so that it use Twiggs money flow instead of Chaikin money flow pls? we know TMF is more reliable than CMF so i think this would make a great money flow indicator. What do you guys think?

Twigg's Money Flow with Jurik Algorithm with Floating Levels

Changed it to Twiggs money flow.

What is the Twigg's Money Flow Indicator?

Colin Twiggs developed the Twiggs Money Flow indicator to enhance the Chaikin Money Flow (CMF) indicator, which is in turn derived from the Accumulation Distribution line.

The primary objective of the TMF indicator is to assess Volume (money flow) as either bullish or bearish based on the Close price location

In contrast, Chaikin Money Flow utilizes a CLV (Close Location Value) for this purpose. Additionally, the TMF indicator differs in its utilization of TR (True Range).

Another significant distinction is that CMF employs cumulative volume (the sum of volumes over a specified period), whereas TMF applies a Moving Average to the volume.

A bullish signal is indicated when the TMF surpasses the zero line, suggesting that prices may rise. Conversely, a bearish signal is revealed when the TMF falls below zero, indicating that prices could potentially decline.