What it does
The Money Flow Index (MFI) is a volume-weighted version of RSI on a 0 to 100 scale. Each bar's typical price (average of high, low, close) times volume is classed as positive or negative money flow depending on whether typical price rose or fell, and the ratio of positive to negative flow over 14 bars is converted with the RSI formula. Because it includes volume, it is often described as measuring buying and selling pressure rather than just price momentum.
How to add it
Click Indicators (ƒx) in the header.
Search “Money Flow Index” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- Use 80/20 as the primary zones: above 80 overbought, below 20 oversold, with 90/10 marking rare extreme readings.
- Trade divergences: price at new highs with MFI making lower highs shows the rally is happening on weakening money flow.
- Prefer MFI over RSI when you want volume confirmation; an RSI signal echoed by MFI carries more weight.
- Use failure swings (MFI reversing from near 80 without price follow-through) as reversal setups.
Inputs
| Input | Type | Default | Range / Options |
|---|---|---|---|
| Period | number | 14 | 1–200 |
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| MFI(14) | line | #7E57C2 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision (default 2 decimals), price-scale labels and status-line values are configurable at the bottom of the Style tab.
Reference levels
| Level | Value |
|---|---|
| Upper | 80 |
| Lower | 20 |
Level values, colors and line styles are editable in settings.
Tips
- Hide the study from the legend eye instead of removing it when you only want it out of the way temporarily.
- Merge multiple oscillators into one pane from the legend ⋯ menu to compare them on a shared axis.
- Double-click the plot to open settings directly, skipping the legend hover.
Watch out for
- It requires reliable volume data, so it is unsuitable where volume is synthetic or missing.
- Like RSI it can sit at extremes throughout strong trends, punishing mechanical fading of 80/20.