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Money Flow Index with Configurable Price Inputs

Article MQL5 code base
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Summary

This indicator adapts the standard Money Flow Index (MFI) calculation so users can select among different price types. The usual MFI uses typical price, calculated from the high, low, and close, to derive the values plotted by the indicator. This version adds the option to use other price types in the calculations.

The document describes the indicator’s purpose and notes that it was first implemented in MQL4 and published in 2012. It provides no formula changes beyond the price-input option, trading rules, performance evidence, or guidance for choosing a price type. As a result, it explains a customization to an established technical indicator, but does not show whether alternative inputs improve signals or results.

Key ideas

  • The standard Money Flow Index uses typical price based on the high, low, and close.
  • This version allows other price types to be selected for the indicator calculation.
  • The document provides no tests or evidence comparing the different price inputs.

Tags

Technical indicators

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.