Indicator example

Money Flow Indicator

Readonly source from tests/EasyLanguage/David_EasyLanguage, generated Pine Script v6, and an expiry-free example EX5.

Convert your script How the full workflow works

Original EasyLanguage

{ Search Tag: WA-Money Flow }
inputs:
Length( 14 ) [
DisplayName = "Length",
ToolTip = "Enter number of bars over which to calculate Money Flow."],
AlertLength( 14 ) [
DisplayName = "AlertLength",
ToolTip = "Enter number of bars over which to look for a bullish or bearish divergence."],
OverSold( 20 ) [
DisplayName = "OverSold",
ToolTip = "Enter the level of the indicator at which you consider the market to be oversold (too low)."],
OverBought( 80 ) [
DisplayName = "OverBought",
ToolTip = "Enter the level of the indicator at which you consider the market to be overbought (too high)."],
OverSColor( MyColors( "DodgerBlue" ) ) [
DisplayName = "OverSColor",
ToolTip = "Oversold Color. Enter the color to use when the indicator's value is below OverSold."],
OverBColor( Red ) [
DisplayName = "OverBColor",
ToolTip = "Overbought Color. Enter the color to use when the indicator's value is above OverBought."];
variables:
MoneyFlowValue( 0 );
MoneyFlowValue = MoneyFlow( Length );
Plot1( MoneyFlowValue, !( "MoneyFlow" ) );
Plot2( OverBought, !( "OverBot" ) );
Plot3( OverSold, !( "OverSld" ) );
{ color criteria }
if MoneyFlowValue > OverBought then
SetPlotColor( 1, OverBColor )
else if MoneyFlowValue < OverSold then
SetPlotColor( 1, OverSColor );
{ alert criteria }
if AlertEnabled then
begin
if LowestBar( C, AlertLength ) = 0
and LowestBar( MoneyFlowValue, AlertLength ) > 0 then
begin
Alert( !( "Bullish divergence - new low not confirmed" ) );
end
else if HighestBar( C, AlertLength ) = 0
and HighestBar( MoneyFlowValue, AlertLength ) > 0 then
begin
Alert( !( "Bearish divergence - new high not confirmed" ) );
end;
end;
{ ** Copyright © TradeStation Technologies, Inc. All Rights Reserved **
** TradeStation reserves the right to modify or overwrite this analysis technique
with each release. ** }

{ Search Tag: WA-Money Flow }

inputs:
	Length( 14 ) [
		DisplayName = "Length", 
		ToolTip = "Enter number of bars over which to calculate Money Flow."],
	
	AlertLength( 14 ) [
		DisplayName = "AlertLength", 
		ToolTip = "Enter number of bars over which to look for a bullish or bearish divergence."],
	
	OverSold( 20 ) [
		DisplayName = "OverSold", 
		ToolTip = "Enter the level of the indicator at which you consider the market to be oversold (too low)."],
	
	OverBought( 80 ) [
		DisplayName = "OverBought", 
		ToolTip = "Enter the level of the indicator at which you consider the market to be overbought (too high)."],
	
	OverSColor( MyColors( "DodgerBlue" ) ) [
		DisplayName = "OverSColor", 
		ToolTip = "Oversold Color.  Enter the color to use when the indicator's value is below OverSold."], 
	
	OverBColor( Red ) [
		DisplayName = "OverBColor", 
		ToolTip = "Overbought Color.  Enter the color to use when the indicator's value is above OverBought."];

variables:
	MoneyFlowValue( 0 );

MoneyFlowValue = MoneyFlow( Length );

Plot1( MoneyFlowValue, !( "MoneyFlow" ) ); 
Plot2( OverBought, !( "OverBot" ) );
Plot3( OverSold, !( "OverSld" ) );

{ color criteria }
if MoneyFlowValue > OverBought then 
	SetPlotColor( 1, OverBColor ) 
else if MoneyFlowValue < OverSold then 
	SetPlotColor( 1, OverSColor );

{ alert criteria }
if AlertEnabled then
begin
	if LowestBar( C, AlertLength ) = 0 
		and LowestBar( MoneyFlowValue, AlertLength ) > 0 then 
	begin
		Alert( !( "Bullish divergence - new low not confirmed" ) );
	end
	else if HighestBar( C, AlertLength ) = 0 
		and HighestBar( MoneyFlowValue, AlertLength ) > 0 then
	begin
		Alert( !( "Bearish divergence - new high not confirmed" ) );
	end;
end;
	

{ ** Copyright © TradeStation Technologies, Inc.  All Rights Reserved ** 
  ** TradeStation reserves the right to modify or overwrite this analysis technique 
     with each release. ** }

Generated Pine Script v6

//@version=6
indicator("MoneyFlowIndicator", overlay=true)
length = input.float(14.0, "length")
alertlength = input.float(14.0, "alertlength")
oversold = input.float(20.0, "oversold")
overbought = input.float(80.0, "overbought")
overscolor = input.color(color.rgb(30, 144, 255), "overscolor")
color overbcolor = color.red
var float moneyflowvalue = 0
float __el_plot1 = na
color __el_plot1_color = color.blue
float __el_plot2 = na
color __el_plot2_color = color.blue
float __el_plot3 = na
color __el_plot3_color = color.blue
__el_call1 = ta.mfi(hlc3, int(length))
__el_call2 = ta.lowestbars(close, int(alertlength))
__el_call3 = ta.lowestbars(moneyflowvalue, int(alertlength))
__el_call4 = ta.highestbars(close, int(alertlength))
__el_call5 = ta.highestbars(moneyflowvalue, int(alertlength))
if bar_index >= 13
moneyflowvalue := __el_call1
__el_plot1 := moneyflowvalue
__el_plot2 := overbought
__el_plot3 := oversold
if moneyflowvalue > overbought
__el_plot1_color := overbcolor
else
if moneyflowvalue < oversold
__el_plot1_color := overscolor
if true
if __el_call2 == 0 and __el_call3 > 0
alert("Bullish divergence - new low not confirmed", alert.freq_once_per_bar)
else
if __el_call4 == 0 and __el_call5 > 0
alert("Bearish divergence - new high not confirmed", alert.freq_once_per_bar)
plot(__el_plot1, title="MoneyFlow", color=__el_plot1_color)
plot(__el_plot2, title="OverBot", color=__el_plot2_color)
plot(__el_plot3, title="OverSld", color=__el_plot3_color)

//@version=6
indicator("MoneyFlowIndicator", overlay=true)
length = input.float(14.0, "length")
alertlength = input.float(14.0, "alertlength")
oversold = input.float(20.0, "oversold")
overbought = input.float(80.0, "overbought")
overscolor = input.color(color.rgb(30, 144, 255), "overscolor")
color overbcolor = color.red
var float moneyflowvalue = 0
float __el_plot1 = na
color __el_plot1_color = color.blue
float __el_plot2 = na
color __el_plot2_color = color.blue
float __el_plot3 = na
color __el_plot3_color = color.blue
__el_call1 = ta.mfi(hlc3, int(length))
__el_call2 = ta.lowestbars(close, int(alertlength))
__el_call3 = ta.lowestbars(moneyflowvalue, int(alertlength))
__el_call4 = ta.highestbars(close, int(alertlength))
__el_call5 = ta.highestbars(moneyflowvalue, int(alertlength))
if bar_index >= 13
    moneyflowvalue := __el_call1
    __el_plot1 := moneyflowvalue
    __el_plot2 := overbought
    __el_plot3 := oversold
    if moneyflowvalue > overbought
        __el_plot1_color := overbcolor
    else
        if moneyflowvalue < oversold
            __el_plot1_color := overscolor
    if true
        if __el_call2 == 0 and __el_call3 > 0
            alert("Bullish divergence - new low not confirmed", alert.freq_once_per_bar)
        else
            if __el_call4 == 0 and __el_call5 > 0
                alert("Bearish divergence - new high not confirmed", alert.freq_once_per_bar)
plot(__el_plot1, title="MoneyFlow", color=__el_plot1_color)
plot(__el_plot2, title="OverBot", color=__el_plot2_color)
plot(__el_plot3, title="OverSld", color=__el_plot3_color)

Compiled MetaTrader 5 example

The EX5 uses the original script filename stem and has no PineAnywhere expiration guard.

Download MoneyFlowIndicator.ex5