The VFI is an indicator that was first published in the AMerican "Stocks and Commodities" magazine, about 7 or 8 years ago I think it was. The author was Markos Katsanos.
It is similar to the OBV (On Balance Volume) except that it smooths out the spikes caused by one-off heavy volume days, for example. And it doesn't lag as much as the OBV.
The main purpose of the VFI is on the weekly chart or longer, and is designed to keep you IN a trade, when the daily suggests an exit.
I have found it to be very useful, and I also use it on daily charts, but I always check "to the left" to make sure that the history of the VFI for any given stock correlates nicely with the price movements. If it has done well over time, then it is highly accurate as to the near-future probability.
I have the formula programmed int AmiBroker, the charting program I use.
Hope that helps :)
The VFI is an indicator that was first published in the AMerican...
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