Twiggs Money Flow_LB [SwetSwet] — Indicator by swetswet

indicator twiggs money flow prediction moneyflowstudies

The modified indicator Twiggs Money Flow more convenient. The critical value is colored in green or red.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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//
// @author LazyBear
// @credits http://www.incrediblecharts.com/indicators/twiggs_money_flow.php
// 
// If you use this code in its original/modified form, do drop me a note. 
//
study("Twiggs Money Flow [LazyBear]", shorttitle="TMF_LB_ss")
length = input( 21, "Period")
WiMA(src, length) => 
    MA_s=(src + nz(MA_s[1] * (length-1)))/length
    MA_s
    
hline(0)
tr_h=max(close[1],high)
tr_l=min(close[1],low)
tr_c=tr_h-tr_l
adv=volume*((close-tr_l)-(tr_h-close))/ iff(tr_c==0,9999999,tr_c)
wv=volume+(volume[1]*0)
wmV= WiMA(wv,length)
wmA= WiMA(adv,length)
tmf= iff(wmV==0,0,wmA/wmV)
tmff= iff(tmf>0.2499,tmf,0)
tmfm= iff(tmf<-0.2499,tmf,0)
plot(tmf, color=aqua, style=area)
plot(tmff,color=green, style=area)
plot(tmfm,color=red, style=area)