The BWMFI bars indicator is developed to define that how many chances are available for the movement of the price in the market. Simply it tells the total possibility of the price that through this price movement the trend can get the benefit. This indicator does not describe the market trends.
BWMFI bars indicator
This tells willingness for the price movement. It defines the price movement through the total price and the volume of the assets. BWMFI bars indicator is the forex trading indicator. This BWMFI bars indicator can be used in any time frame. This can also be used with any forex currency pairs that are listed in the forex market.
This indicator defines that when there should be entered in the market trend when exiting from the market trend and when the market price will be strongly High and weakly low. This indicator can be used to know the market players that are actively entering the market trend.
Calculation
BW MFI = (High-Low) / Volume
Where
High = Highest price of the bar
Low = lowest price of the bar
Volume = current volume of the bar
This indicator uses different types of MFI bars to display the result. These bars are named green bars, blue bars, pink bars, and brown bars. These MFI bars tell that when the trend will low and volume will high and when the volume will high and the trend will low and when at a specific time both will remain neutral.
The green bar of the BWMFI bars indicator tells about the price movement acceleration on the indicators chart. The blue bar of the BWMFI bars indicator tells about the reversal of the trend. The pink bar of the BWMFI bars indicator tells about the speed of the price movement. The brown bar of the BWMFI bars indicator tells about future development.
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