Money Flow Index (MFI) is an oscillator that uses price and volume to quantify buying and selling pressure. It uses a formula similar to RSI and hence it is also called as volume-weighted RSI. The formula uses the typical price of a stock and its volume to calculate the positive money flow and negative money flow, and then uses the accumulated positive and negative money flows over the period of the indicator to calculate the Money Flow Index.
The Composite Screener can be used to combine multiple pre-defined Technical and Fundamental scans and a number of Fundamental and Technical Parameters to come up with your own scans that are meeting all the criteria.
Although we have not been updating this blog frequently, we have been regularly posting on facebook and for those who are following us there, know that NIFTY broke out of a sideways trend on Thurs, 27th Oct, 2011, albeit on thin volume because of Muhurat Trading. On Friday, the NIFTY suddenly opened higher and closed at 5360, up almost 3%. Continue reading
We will soon be releasing a new version of Investar with lots of new features. Here’s a breakdown in terms of different modules of Investar:
- Composite Screener (Ability to combine different pre-defined and fundamental scans).
- 15-min, 30-min & 60-min intraday scans.
- A new “Daily” Timeframe scan to help you find new daily highs/lows and volume gainers/losers happening in intraday.
- 12+ more Fundamental Scans.
- 15+ more EOD Technical Scans (ADX, Bollinger Bands etc).
- More Intraday Scans (Stochastics, Bollinger Bands, ADX).
- Favorite Scanning (i.e. filter scrips in your scans using your watchlist).
- Improved Scan Alerts (with ability to filter by timeframes and persistence).
- End-Of-Day Scan Alerts.
- Intraday history now available for 2 months.
- 10 more drawings (Fibonacci Extensions, Fibonacci Fans and more).
- 3 new indicators.
- Technical Advice based on 15-min, 30-min and 60-min timeframes.
- Horizontal Levels for indicators.
- Improved trendline drawing with snap-to-price extension.
- Ability to change high/low color of bar chart.
- Easy Multiple Client ODIN/Neat Import (for Portfolio Managers).
- Export Portfolio Holdings, Transactions & Profit/Loss Analysis to PDF, Excel, Word and many other formats.
- Portfolio Performance Report.
- Printing Support.
- And many more.
Over the next few days I will be blogging about some of the features and also holding webinars to demonstrate some of the key features that can help you improve your trading.
Missed our Live Webinar on “Using the Intraday Screener”? Recording for the webinar is now available in our Education Section.
The webinar was conducted in a LIVE market session and covers two simple buying strategies: 1) Bullish 5-20 EMA Crossovers and 2) Gainers on Strong Volume.
All the different intraday scans are categorized according to three Technical Analysis Strategies: Scans that can help you in identifying 1) Support/Resistance Breakouts 2) Buy/Sell signals in indicators and 3) Buy/Sell signals in candlesticks; so you can focus on the right ones according to your trading strategy.
Volume terms like Vol% and scans like Gainers on Strong Volume (Intraday) and Gainers on Strong Volume (End-Of-Day) are also explained. If you’d rather see the slides instead they are available in this blog post.
Some of our users have been having some confusion about how to go about setting Scan Alerts in our recently released Investar 2.0. I thought of demonstrating how to do that using this short Youtube video.
Intraday Scan Alerts and Intraday Screener are invaluable to the Intraday/Swing Trader because by using together, one can come up with good intraday/short-term trading ideas! Enjoy and don’t forget to leave any feedback you have about the video or the feature.