This indicator was developed by Bill Williams. He invented this indicator to define that how much 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 benefit. This indicator does not describe the market trends. This tells willingness for the price movement. It defines the price movement through the total price and the assets volume.
BWMFI Bars Indicators
This indicator defines that when there should be enter in the market trend, when exit 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 active for entering in the market trend.
BW MFI = (High-Low) / Volume
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 named as green bar, blue bar, pink bar and brown bar. These MFI bars tell that when the trend will low and volume will high and when the volume will high and trend will low and when at a specific time both will remain neutral.