# 21 day Twiggs Money AFL Code for Amibroker

Twiggs money flow indicator is nothing but a modified version of the Chaikin Money Flow indicator. Twiggs money flow is primarily used for trend confirmation when the price is breaking out or showing trend weakness when the divergence is building

How to use Twiggs Money Flow?

Twiggs Money Flow signals accumulation if above zero, while negative values signal distribution. The higher the reading (above or below zero), the stronger the signal.

• Go long if a breakout above resistance is supported by Twiggs Money Flow above zero.
• Go short if a breakout below support is confirmed by negative Twiggs Money Flow.

Divergences also provide good signals:

• Go long on a bullish divergence.
• Go short on a bearish divergence.

The strongest confirmation of the above signals is when either:

• Twiggs Money Flow is trending upwards and completes a trough without crossing below zero, or
• Twiggs Money Flow trends downwards and completes a peak without crossing above zero.

_SECTION_BEGIN("Twiggs Money Flow");
/*
Twiggs Money Flow is a derivation of Chaikin Money Flow indicator, which is in
turn derived from the Accumulation Distribution line.
However, Twiggs Money Flow makes two basic improvements to the Chaikin Money
Flow formula:
1-To solve the problem with gaps, Twiggs Money Flow uses true range, rather
than daily Highs minus Lows.
2-And, rather than a simple-moving-average-type formula, Twiggs Money Flow
applies exponential smoothing, using the method employed by Welles Wilder for
many of his indicators.
*/

periods = Param( "Periods", 21, 5, 200, 1 );
color = ParamColor("Color",colorYellow);

TRH=Max(Ref(C,-1),H);
TRL=Min(Ref(C,-1),L);
TR=TRH-TRL;
WV=V+(Ref(V,-1)*0);
SmV= Wilders(WV,periods);

TMF= IIf(SmV==0,0,SmA/SmV);
Plot( TMF, _DEFAULT_NAME(), color,styleThick );
_SECTION_END();

## [Free Course] Mini Certification on Amibroker AFL Programming

Interested in getting to know the basics of Amibroker AFL Programming then here is a free live training course to access hands-on training on...

This Algomojo Button trading module provides 4 modes of the button to place orders with a single click directly from Amibroker using simple smart...

## AlphaTrend – Amibroker AFL Code to Manage Sideways Markets

Very simple and interesting trend following strategy which could manage sideways markets to a greater extent while following the trend. Recently I got inspired...