MFI Expert Advisor Using Overbought and Oversold Crossings

Summary

This Expert Advisor uses the Money Flow Index (MFI) as a threshold-crossing signal. It sells when the oscillator crosses downward through an overbought level and buys when it crosses upward through an oversold level. Signals are evaluated at bar close, so entries wait for a completed bar rather than reacting to an intrabar crossing.

The document mentions a trading library that supports brokers with nonzero spreads and allows stop loss and take profit settings, although neither protective exit was used in the cited tests. It identifies a test on AUD/USD six-hour data for 2015 and says default inputs were used, but provides no numerical performance statistics in the text. The strategy description therefore offers a basic oscillator rule, not enough evidence to judge profitability or robustness across markets, periods, or transaction costs.

Key ideas

• The strategy buys on an upward crossing of the oversold MFI threshold.
• It sells on a downward crossing of the overbought MFI threshold.
• Signals are generated after a bar closes.
• The referenced test used AUD/USD six-hour data for 2015 and omitted stop loss and take profit.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.