nikoschopen
2,824 posts
msg #40720
- Ignore nikoschopen |
1/26/2006 5:22:33 PM
Developed by Quong and Soudack, this indicator basically measures the amount of money flowing in or out of a particular stock. It is formulated by multiplying the average price by the volume for the day. A money flow ratio is then computed from the ratio of positive money flow, averaged over a specified number of days (here 10 days were used), to negative money flow, averaged over the same period. This ratio is then normalized by means of the RSI formula which translates the data to a scale ranging between zero and 100. Money flow values above 80 indicates a top, where profits will be taken and imminent selloff is possible. Values below 20 indicate a bottom, which is often followed by an uptrend.
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nikoschopen
2,824 posts
msg #40733
- Ignore nikoschopen
modified |
1/27/2006 2:18:54 PM
Being a Joe Sixpack myself, so much for releasing a filter without extensive testing. Here's a bug-free filter (hopefully, this will end the need for further extermination). RSI(2) has been added for good measure.
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dlslusser
1 posts
msg #40812
- Ignore dlslusser |
1/31/2006 12:30:32 PM
This still is not very selective!
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nikoschopen
2,824 posts
msg #40815
- Ignore nikoschopen |
1/31/2006 2:48:59 PM
Can you elaborate on what's not so selective about this filter?
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Niagara
49 posts
msg #50785
- Ignore Niagara |
4/1/2007 11:33:50 PM
I think he might have been referring to 1867 matches as not narrowing the field enough.
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nikoschopen
2,824 posts
msg #50787
- Ignore nikoschopen |
4/2/2007 12:38:42 AM
Hi,
Without any further parameter, MFRSI is meant to be used as just another indicator. If you want to use it as a filter, however, just add a few more criteria or, better yet, simply add it on top of your existing filters. For example, the following filter would vomit only 240 as opposed to 1879 stocks.
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