Twiggs Money Flow
Created by Colin Twiggs, the Twiggs Money Flow indicator is a variation on Chaikin Money Flow indicator. The two big differences are that it is based on true range instead of range in order to include gaps in the calculations and it uses Wilder's smoothing instead of simple moving averages or sums to smooth the indicator before it is plotted.
XAVG(V * (2 * C - GREATEST(H, C1) - LEAST(L, C1)) / ATR, w) / XAVGVw |
w=(2*Period)-1 |
Where w is calculated by multiplying the period times two and then subtracting one and must be an integer.
Examples
An indicator formula for Twiggs Money Flow 14 can be written as follows.
XAVG(V * (2 * C - GREATEST(H, C1) - LEAST(L, C1)) / ATR, 27) / XAVGV27
An indicator formula for Twiggs Money Flow 21 can be written as follows.
XAVG(V * (2 * C - GREATEST(H, C1) - LEAST(L, C1)) / ATR, 41) / XAVGV41
