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https://github.com/mihakralj/QuanTAlib.git
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44 lines
1.4 KiB
Plaintext
44 lines
1.4 KiB
Plaintext
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// Licensed under the Apache License, Version 2.0
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// © mihakralj
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//@version=6
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indicator("Bill Williams Market Facilitation Index (BW_MFI)", "BW_MFI", overlay=false)
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//@function Bill Williams MFI with 4-zone classification
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//@returns [mfi, zone] where zone: 1=Green, 2=Fade, 3=Fake, 4=Squat
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//@optimized O(1) per bar — division + two comparisons
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bw_mfi() =>
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float mfi = volume != 0 ? (high - low) / volume : 0.0
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float prev_mfi = nz(mfi[1])
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float prev_vol = nz(volume[1])
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int zone = na
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if bar_index < 1
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zone := 0
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else
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bool mfi_up = mfi > prev_mfi
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bool vol_up = volume > prev_vol
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if mfi_up and vol_up
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zone := 1 // Green: trend continuation
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else if not mfi_up and not vol_up
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zone := 2 // Fade: fading momentum
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else if mfi_up and not vol_up
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zone := 3 // Fake: unsupported price move
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else
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zone := 4 // Squat: accumulation/distribution
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[mfi, zone]
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// ---------- Main loop ----------
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[mfi_val, zone_val] = bw_mfi()
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// Zone-based bar coloring
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zone_color = switch zone_val
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1 => color.green // Green zone
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2 => color.new(#8B4513, 0) // Fade (brown)
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3 => color.blue // Fake zone
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4 => color.fuchsia // Squat zone
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=> color.gray // First bar / unknown
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plot(mfi_val, title="BW_MFI", color=zone_color, style=plot.style_columns, linewidth=3)
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hline(0, "Zero", color=color.gray, linestyle=hline.style_dashed)
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