OPEN-SOURCE SCRIPT
Updated MFI Reloaded @ByPuppyTherapy
The goal was to create a nicer cleaner and yet a practical version of the
MFI indicator. MFI or Money Flow Index is a momentum-based oscillator. It is very similar to the RSI but enhanced with
volume in its calculation.
This version of MFI features :
MFI indicator. MFI or Money Flow Index is a momentum-based oscillator. It is very similar to the RSI but enhanced with
volume in its calculation.
This version of MFI features :
- - Cleaner visualization
- EMA Band Ribbon to see the trend without noise
- Long Term MFI smoothed via T3 that sets the actual trend
- basic TDI like functionality with two bands and Sharkfins / Hooks
- the Sharkfins / Hook signals are generated in the direction of the MFI Trend
Release Notes
Optimized parameters for based on backtest for better profitability and added neutral band crosses to the mix. + Some random code Housekeeping.
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 publications is governed by House rules. You can favorite it to use it on a chart.
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