Trading-systems analyst; creator of the Volume Flow Indicator
Markos Katsanos
Markos Katsanos, CMT, is a technical analyst and trading-system developer with degrees in civil and structural engineering who has traded stocks and commodities since 1987. He introduced the Volume Flow Indicator in Technical Analysis of Stocks & Commodities in June 2004 and wrote Intermarket Trading Strategies (Wiley, 2009).
What they argue
- On-balance volume is improved by ignoring tiny price moves and capping freak volume spikes.
- A VFI above zero is bullish, a cross above zero is the buy trigger, and divergences are the strongest signals.
Sources
Wiley: Markos Katsanos author informationCMT Association: Markos KatsanosStockCharts Store: Intermarket Trading Strategies (Wiley, 2009)Traders.com: Katsanos, 'Using Money Flow To Stay With The Trend' (S&C, June 2004)
Summaries are Be The Puck's paraphrase of public material. Be The Puck has no affiliation with the people listed.
Katsanos' Volume Flow Indicator (VFI) zero-line switch
Rule and full recordVolume & money flow · daily
A refined on-balance volume that ignores tiny price moves and caps freak volume spikes. Hold while it is above zero.
In right now219 of 377As of the Oct 13, 2026 close.
Best risk-adjusted results against buy and hold: