Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

21 day Twiggs Money AFL Code for Amibroker

31 sec read

_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 );
TRH=Max(Ref(C,-1),H);
TRL=Min(Ref(C,-1),L);
TR=TRH-TRL;
ADV=V*((C-TRL)-(TRH-C))/ IIf(TR==0,9999999,TR);
WV=V+(Ref(V,-1)*0);
SmV= Wilders(WV,periods);
SmA= Wilders(ADV,periods);

TMF= IIf(SmV==0,0,SmA/SmV);
Plot( TMF, _DEFAULT_NAME(), ParamColor("color", colorCycle ),
ParamStyle("Style") );
_SECTION_END();

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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