John Bollinger MFI Money Flow Index), normalized.

Bollinger Bands are used for calculating overbought/oversold zones.

There are four input parameters:

• MFI period – MFI calculation period
• MFI applied volume – volume used for MFI calculation
• BB period – Bollinger Bands calculation period
• BB deviation – Bollinger Bands deviation

Calculation:

NormMFI = (MFI-BL) / (TL-BL)

where:

TL = BBands(MFI, BB period, BB deviation, UPPER_BAND)
BL = BBands(MFI, BB period, BB deviation, LOWER_BAND)

MFI – Money Flow Index(MFI period, MFI applied volume)
BBands – UPPER_BAND and LOWER_BAND of Bollinger Bands