The Money Flow Dashboard is my take on trying to replicate the great and mighty Market Cipher's Money Flow and pack it into a comprehensive dashboard format with access to various timeframes.
If Money Flow is king 👑, then follow the Money 💸
How to Use Money Flow Dashboard: 1. Timeframe Selection: Choose the relevant timeframes based on your trading style and preferences. Enable or disable timeframes in the settings to focus on the most relevant ones for your strategy.
2. Dashboard Interpretation: The Money Flow Dashboard displays green (🟢) and red (🔴) symbols to indicate when the Money Flow is in green or in red zone. You can also leverage the Money Flow values on the dashboard to better interpret sentiment and its changes.
3. Dashboard Placement: To maximize effectiveness, consider placing the Money Flow Dashboard alongside your Market Cipher indicator, allowing for seamless analysis of market dynamics on multiple timeframes at the same time.
4. Confirmation and Strategy: Consider Money Flow Dashboard signals as confirmation for your trading strategy. For instance, in an uptrend, look for long opportunities when the dashboard displays consistent green symbols. Conversely, in a downtrend, focus on short opportunities when red symbols dominate.
5. Risk Management: As with any indicator, use Money Flow Dashboard in conjunction with proper risk management techniques. Avoid trading solely based on indicator signals; instead, integrate them into a comprehensive trading plan.
הערות שחרור
⋅
Added an option to switch between Money Flow and VWAP 🎛️
Can you add vwap instead if sma length ? Or give option for that to choose
AlexFuch
⋅
Hmm, what do you mean? The original VWAP or the Market Cipher's yellow area/line that people call "VWAP"?
In terms of my testing, the SMA-based calculation is closest to the original Money Flow from Market Cipher.
Do you have a formula on how to calculate Money Flow based on VWAP?
sam_m400
⋅
@AlexFuch, no..i like to test changes SMA with VWAP if you give that option to choose..it is just sma to vwap code change in script..instead os SMA line we can test with VWAP line
AlexFuch
⋅
@sam_m400, I see. It's not a one-line change though, but I got your point. Will try to come up with something later this/next week
@AlexFuch, thanks i checked with VWAP it is not showing good results.. so SMA is giving better result what you gave? .. thanks for awesome indicator...
AlexFuch
⋅
@sam_m400, thanks for your feedback. Just to double-check, what do you mean by “VWAP is not showing good results”? The idea was to replicate yellow area/line on Market Cipher B and in terms of my testing it works as expected.
sam_m400
⋅
@AlexFuch, your script is correct..but output what I was expecting in vwap is not good to take decision..SMA is good as it shows better results ..your scripts in SMA is giving better results than VWAP..thanks for nice script .will use with SMA to see any additions needed in future