Kawasaki_MFI Indicator The Kawasaki_MFI indicator is a customized technical analysis tool developed to analyze asset prices in financial markets. This script is implemented in TradingView's Pine Script language (version 5) and is based on the concept of the Accumulation/Distribution Line (ADL) which is a volume-based indicator designed to measure the cumulative flow of money into and out of a security.
Script Details Version: Pine Script version 5 Overlay: True - The indicator is plotted directly on the price chart. Input Variables The script utilizes the following input variables sourced from daily (D) time frames:
High (my_high): The highest price of the security in the daily time frame. Low (my_low): The lowest price of the security in the daily time frame. Close (my_close): The closing price of the security in the daily time frame. Volume (my_volume): The trading volume of the security in the daily time frame. ADL Calculation The ADL is calculated using the following formula:
ADL = Cumulative sum of ((Close−Low)−(High−Close)High−Low×Volume) ADL=Cumulative sum of ( High−Low(Close−Low)−(High−Close)×Volume) Plot The ADL line is plotted on the chart with the following characteristics:
Title: ADL Color: Blue Usage Traders can use the Kawasaki_MFI indicator to identify trends and potential reversal points in the market. A rising ADL line suggests buying pressure, while a falling ADL line suggests selling pressure. It can be used in conjunction with other technical indicators to develop a comprehensive trading strategy.
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