Indicators: Twiggs Money Flow [TMF] & Wilder's MA [WiMA] by LazyBear

lazybear pinescript indicator movingaverage custom chaikinmoneyflow twiggs

TMF is a CMF (Chaikin Money Flow) variation that addresses some of the gaps in the original indicator. More info:

TMF uses true range, rather than daily Highs minus Lows. Also, uses Wilder's MA rather than SMA/EMA.

Since I had to write Wilder's MA (WiMA) for TMF, I have published that also as a separate indicator. WiMA is like EMA, but with a different "alpha" value.

How to include this in your charts?
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- Click on "Share" button (top right on this chart). A dialog box opens up.
- Click on "Make it mine" button. This will create a copy of my published chart for you to edit.
- You can click on "{}" button next to the indicator name to get access to the source code.
- Save it to your CustomScripts library.

List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970

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.

Want to use this script on a chart?

//
// @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")
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)
plot(tmf, style=area)