Higher-Timeframe MFI Trend and Trade Signal Indicator
Summary
This indicator displays a trend direction or deal direction generated by the iMFISign indicator, using colored graphical arrows. A right-pointing arrow marks continuation of the existing trend at the selected bar, while a diagonal arrow indicates a trend change and the corresponding deal direction. It can also issue alerts and audio signals.
Inputs cover the asset and calculation timeframe, Money Flow Index period, applied volume, and overbought and oversold thresholds, as well as signal-bar selection, display placement, colors, labels, and alert settings. Multiple copies on one chart need distinct label-name values, and the underlying iMFISign indicator file is required. The document explains display and configuration behavior but gives no entry or exit rules, profitability evidence, or assessment of signal reliability.
Key ideas
- The indicator renders higher-timeframe iMFISign trend or deal signals as colored arrows.
- A right arrow represents trend continuation, while a diagonal arrow represents a change in trend.
- Users can configure timeframe, MFI settings, volume input, thresholds, visual display, and alerts.
- Separate label-name values are needed when several instances appear on one chart.
- No backtest or evidence of predictive performance is provided.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.