OPEN-SOURCE SCRIPT
Updated MFI * %B [seiglerj]
Oscillator averaging Money Flow Index and Bollinger Bands' %B
Colored bars indicate buy or sell signals
I have no idea if this is the right way to combine these two, but I'm gonna try it and see what happens
Colored bars indicate buy or sell signals
I have no idea if this is the right way to combine these two, but I'm gonna try it and see what happens
Release Notes
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Change the combined signal to a min/max formula that only exceeds the bounds when both MFI and %B do. This reduces erroneous signals and more closely matches published MFI/%B strategies.
Open-source script
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