Thread by @ssstockalerts

Dear Friends,

I have implemented the below patterns based Money Flow Index (MFI).

What Is the Money Flow Index (MFI)?
The Money Flow Index (MFI) is a technical oscillator that uses price and volume for identifying overbought or oversold conditions in an asset

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#MFI
1. It is like a RSI with volume. Considered as Volume RSI.
2. It moves between 0 to 100
3. Where < 80 considered as Overbought
4. Where > 20 considered as Oversold.
5. General period for MFI is 14.
6. Divergence can be helped to track trend.
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#MFI
7. Overbought and oversold doesn't necessarily mean the price will reverse, only that the price (factoring for volume) is near the high or low of its recent price range.
8.A divergence between the indicator and price is noteworthy.

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Traders watch for the MFI to move back above 10 to signal a long trade, and to drop below 90 to signal a short trade

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A move above 90 is truly overbought and a move below 10 is truly oversold. Moves above 90 and below 10 are rare occurrences that suggest a price move is unsustainable. Admittedly, many stocks will trade for a long time without reaching the 90/10 extremes. 

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