More Information about:
Link: 1) ta.mql4.com/indicators/bills/market_facilitation_index
Link: 2) www.forexrealm.com/technical-analysis/technical-indicators/market-facilitation-index.html




Calculation:

To calculate Market Facilitation Index you need to subtract the lowest bar price from the highest bar price and divide it by the volume.

BW MFI = RANGE*(HIGH-LOW)/VOLUME

Where:

RANGE — is the multiplication factor, which brings the difference in points down to whole numbers.


Source Code "The Market Facilitation Index":

function init()
{
   with (MaFI) {
     createBuffer("MaFI");
     setBufferColor("MaFI", "lime");
     setBufferDrawStyle("MaFI", DrawStyle.HISTOGRAM);
     setAutoChangeMaxMin("MaFI");

     createParameter("Line", 0);
   }
}

function start()
{
   MaFI.label = "Market Facilitation Index";

   var num = Shared.numberOfQuotes();

   var MaFIBuf = new Array(num);

   for (var i = 0; i < num; ++i) {
     MaFIBuf[i] = (Shared.high(i) - Shared.low(i)) / Shared.volume(i);
   }

   MaFI.setBufferData("MaFI", MaFIBuf);
}