Money flow quantifies the amount of money going into or out of a security. Money flows are only calculated when the price of the security changes and include only those trades from the security's primary exchange. The value of money flow is set to zero at the start of the trading day. When a trade is performed, its price is compared to the price of the previous trade (the first trade of the day is compared to the previous day's close). If the prices differ, the money associated with the trade (price times number of shares) is added to or subtracted from the money flow. Additions (inflows, buys) are done on upticks; subtractions (outflows, sells) are done on downticks. I assume that this indicator is much more efficient than the up down ratio. Did anyone made some research about it ?