Re: Volume Indicators for MT4

676
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.
These users thanked the author mrtools for the post (total 8):
talaate, ixion700, RodrigoRT7, Jimmy, BeatlemaniaSA, kvak, ParallelNative, ROI

Re: Volume Indicators for MT4

677
Dear @Mrtools and @Kvak, i have been using this indicator for recent 3 weeks and every day im more impressed by it. I know this baby looks too simple and isnt attractive at first glance but im telling you she is indeed something! Using this to filter my signals the results have been very good so im sure she deserves an improvement. If you have time please have a look and add some averages to it and its signal line please. Many thanks in advance
These users thanked the author ixion700 for the post:
RodrigoRT7
Think out of the box!

Re: Volume Indicators for MT4

678
ixion700 wrote: Fri Dec 01, 2023 1:50 am Dear @Mrtools and @Kvak, i have been using this indicator for recent 3 weeks and every day im more impressed by it. I know this baby looks too simple and isnt attractive at first glance but im telling you she is indeed something! Using this to filter my signals the results have been very good so im sure she deserves an improvement. If you have time please have a look and add some averages to it and its signal line please. Many thanks in advance
I made this version, added coloring, some average to signal and possibly smoothing....
These users thanked the author kvak for the post (total 10):
TransparentTrader, RodrigoRT7, yoki, ChuChu Rocket, ParallelNative, ixion700, BeatlemaniaSA, josi, talaate, Karl2007


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