Money Flow Index

Money Flow Index

Now that we've looked at the Relative Strength Index (RSI), let's look at a tighter momentum indicator. Money Flow Index (MFI) measures the strength of money flowing in and out of stock.
The difference between the RSI and MFI is this: while the RSI looks only at price, MFI also takes volume into account. The MFI is a bit harder to calculate the RSI:
First we need the average price for the day:
Average Price = (Day High + Day Low + Close) / 3