All you wanted to know about the Money Flow Index in technical analysis

The MFI study on the daily and weekly chart assists in identifying short-term trade for quick gains

Money Flow Index (MFI) is a technical oscillator that identifies the overbought and oversold condition by using price and volume data. Unlike the Relative Strength Index (RSI), which uses only price to determine the condition, MFI takes advantage of both price and volume to deeply understand the overall scenario. The indicator moves in the range of 0-100 value.

The two significant components while analysing a security are the stock price and volumes. Both the components are included in MFI, and hence, the strategies built on these components provide higher degree of confirmation probability.

Given that the indicator has a combination of price