OPEN-SOURCE SCRIPT
MFI & EMA & Bollinger Bands
In this script
I combined the various of the oscillator
MFI ( Money Flow Index ) with BB ( Bollinger Bands ).
As the MFI crosses the BB base, a green / red point is formed accordingly.
As a sign it is possible to continue up / down.
I added EMA8 to MFI (style circles)
When the oscillator is above the EMA - it is possible that this is a clear sign of an increase.
Band 50 was also added to facilitate the calculations.
I combined the various of the oscillator
MFI ( Money Flow Index ) with BB ( Bollinger Bands ).
As the MFI crosses the BB base, a green / red point is formed accordingly.
As a sign it is possible to continue up / down.
I added EMA8 to MFI (style circles)
When the oscillator is above the EMA - it is possible that this is a clear sign of an increase.
Band 50 was also added to facilitate the calculations.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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