Calculates the standard Money Flow Index (MFI) oscillator alongside an exponential moving average signal line in a separate pane. The script visually highlights trend conditions through dynamic ribbon filling, optional difference histogram bars, and overbought
Indicator · Pine Script v6 · Own pane
Normalized EFI
Normalized EFI calculates a normalized variation of the Elder Force Index and plots it as an oscillator in a separate pane alongside a zero baseline.
GitHub stars2on the repository
Pine versionv6current
Lines of code33
Settings2inputs
LicenceMPL-2.0
Last update11 months ago4 Nov 2025
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
33 lines of Pine Script v6 from normalized-efi.pine, published under MPL-2.0. Keep the author's credit and licence lines when you reuse it.
// This Pine Script® code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © realanthonyc https://www.tradingview.com/u/realanthonyc
//@version=6
// ------------------------------------------------------------
// Normalized EFI
// On Github: https://github.com/realanthonyc/Normalized-EFI
// v1.0.6
// ------------------------------------------------------------
indicator(title="Normalized EFI", shorttitle="nEFI", format=format.price, precision=2, timeframe="", timeframe_gaps=true)
// Check for volume data
var float cumVol = 0.0
cumVol += nz(volume)
if barstate.islast and cumVol == 0.0
runtime.error("No volume is provided by the data vendor.")
// Inputs
length = input.int(13, "Smoothing Length", minval=1, tooltip="EMA smoothing length")
volLen = input.int(30, "Volume EMA Length", minval=1, tooltip="Average volume over N bars for normalization")
// Normalized EFI formula
// ((Close - Close[1]) / Close[1]) * (Volume / EMA(Volume, N))
relVolume = volume / ta.ema(volume, volLen)
priceChangePct = close[1] != 0.0 ? (close - close[1]) / close[1] : 0.0
efi_norm_raw = priceChangePct * relVolume * 100
// Smooth the normalized EFI with EMA
efi_norm = ta.ema(efi_norm_raw, length)
// Plot
hline(0, color=#787B86, title="Zero")
plot(efi_norm, title="Normalized EFI", color=color.new(#00D9FF, 0), linewidth=1)
Overview
Normalized EFI scales percentage price changes by relative volume, defined as current volume divided by an exponential moving average of volume, and smooths the product with a second moving average. Users can customize both the volume normalization period and the final smoothing length. The script requires volume data and triggers a runtime error if volume is unavailable.
- Normalized Force Index calculation
- Relative volume scaling via volume EMA
- Exponential moving average smoothing
- Zero line reference plot
- Volume data availability check
Details
Published by
realanthonyc on GitHub
Type
Indicator, Pine Script v6
Draws
Separate pane below the chart
Category
Volume, Oscillators & momentum
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Repository
Topics
indicatorpinescripttradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Smoothing Length | int | 13 | length |
| Volume EMA Length | int | 30 | volLen |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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