This is my "Enhanced Money Flow Oscillator" indicator using Pine Script version 4.0, freely available to ALL! This originates from an October 2015 TASC magazine article written by Vitali Apirine. While the original was simplistically designed, I enhanced it by adding a multitude of features listed below.
Note: This script has volume detection built-in. When no volume is available, the background color will be overwhelmingly red AND the indicator will cease to function. At a minimal, this script can used to detect when volume is available in an asset or when it is not.
Features List Includes: I.P.O.C.S.(Initial Public Offering Clean Start) Technology Enable/disable dark background for enhanced visibility "Period" adjustment "Line Width" adjustment "Display Area" selection for visual mutations displayed above Ranges and thresholds are enable/disable capable Upper threshold adjustment Red/green secondary range that adjusts +/- from the upper/lower thresholds Lower threshold adjustment Adjustable centered medial zone
The comments section below is solely just for commenting and other remarks, ideas, compliments, etc... regarding only this indicator, not others. If you do have any questions or comments regarding this indicator, I will consider your inquiries, thoughts, and ideas presented below in the comments section, when time provides it. When my indicators achieve more prevalent use by TV members, I will implement more ideas when they present themselves as worthy additions. As always, "Like" it if you simply just like it with a proper thumbs up, and also return to my scripts list occasionally for additional postings. Have a profitable future everyone!
Hi some enhancements will make this Oscillator work in a better way, such as:
1- when the line goes down the 0, its color is red, you can add this signal ( MT in red color) means money is out of the market, and when it goes up to 0 it gives a green line with this signal (MN in green color) means the money goes in the market. at least it will be clear for users. 2- also When the price fluctuates so closer to zero areas, it is possible to put a signal written on its (weak volume) in yellow or orange color, for example.
it's so cool to make this indicator much more explained.
regards
Tommy_bnks
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beauty! Having the lower part coloured a little bit differently would be nice (below/above the zero line) and adding a simple smoothing function would be nice. Other than that, nothing more to say but THANK YOU! (open script would be cool ofc to further customize)
Alpegesnp
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Thanks for great indicator. How can i see source code ?
some enhancements will make this Oscillator work in a better way, such as:
1- when the line goes down the 0, its color is red, you can add this signal ( MT in red color) means money is out of the market, and when it goes up to 0 it gives a green line with this signal (MN in green color) means the money goes in the market. at least it will be clear for users.
2- also When the price fluctuates so closer to zero areas, it is possible to put a signal written on its (weak volume) in yellow or orange color, for example.
it's so cool to make this indicator much more explained.
regards