Money Flow Tracker Indicator for ThinkorSwim TOS Script

The Money Flow Tracker measures trends of money flows based upon volume. It is helpful in both short and long term market analysis.  

The Oscillator is calculated using three values: the High-Low price range, volume, and Accumulation/Distribution.Accumulation takes place if typical price of the current bar is higher than that of the previous, and Distribution is observed when the current typical price is lower than that of the previous bar. If the typical prices are equal,the existing trend is maintained. 

The oscillator is calculated as the difference between two EMAs of volume force: 34 period EMA and 55 period EMA. Volume force is defined as volume multiplied by coefficient depending on Accumulation/Distribution data and preceding trend. The primary plot is accompanied with trigger line which is EMA of Oscillator (period is equal to 13by default). 

In price uptrend, it is considered a Buy signal when the Oscillator has extremely low negative value, turns up and crosses the trigger line. Conversely, in downtrend, the Sell signal is suggested when the Oscillator rises to extremely high level, turns down, and crosses the trigger line. An 89 period EMA is recommended for defining trend direction. 

Input Parameters

ma length The number of bars to calculate the EMA for trigger line.

Plots

KVOsc      The Oscillator plot.

TriggerLine        The triggerline.

ZeroLine   The zero level.

Works with ALL Futures, Forex Currency Pairs, and Stocks

Works with the Think Or Swim trading platform

Download link will be emailed upon purchase of the software.