### 10.45 Twiggs Money Flow

http://www.incrediblecharts.com/technical/twiggs_money_flow.htm

The Twiggs money flow index by Colin Twiggs is a variation of the Chaikin
money flow index (see Chaikin Money Flow) using true range so as to
include gap moves, and using EMA smoothing (see Exponential Moving Average) to avoid jumps when a high volume day drops out of the calculation.
The formula is

/ close - truelow \
EMA[N] of volume * | 2 * ------------------ - 1 |
\ truehigh - truelow /
Twiggs MF = --------------------------------------------------
EMA[N] of volume
truehigh = max (high, prevclose)
truelow = min (low, prevclose)

The default EMA period is 21 days, and the period is reckoned by J. Welles
Wilder's method (see Exponential Moving Average).

Copyright 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009 Kevin Ryde

Chart is free software; you can redistribute it and/or modify it under the
terms of the GNU General Public License as published by the Free Software
Foundation; either version 3, or (at your option) any later version.