Market Facilitation Index
Market Facilitation Index shows the state of each candlestick based on the value of the previous candlestick and the tick volume.
The indicator is calculated as the ratio of the difference of High and Low to the Volume of a candlestick during one tick, relative to the previous candlestick.
The MFI indicator is displayed as colored dots on the chart.
- Green means that at this bar both MFI and volume have grown.
- Red means that MFI and volume have decreased.
- Gray means that MFI has grown, the volume has decreased.
- Blue means that MFI has decreased, the volume has grown.
- Add distance in pips - the number of pips from the candlestick to display the dot.