Add to Composite - Money Flow Index

I have created Money Flow Index indicator for Sectors in two different ways using AddtoComposite.

  1. Calculate MFI for each symbol in list and create composite MFI
  2. Calculate composite price for equities in list and then calculate MFI from the composite price

The two results have general similarities but are really quite different .

I would appreciate feedback from anyone about pros / cons for each.

Thanks
Ara

Obviously you will get different output because in first case you are creating SUM of individual symbol MFIs while in second case you are creating single MFI from SUM of prices. Sum of prices can be considered "index". So in second case you are calculating MFI indicator of the INDEX.
MFI indicator is not addition. It does not have properties of addition. MFI is not commutative with regards to addition. In other words the ordering of MFI and sum matters.

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