Original author:

Lukashuk Viktor

The MFI indicator (Money Flow Index) applied over MACD (Moving Average Convergence/Divergence) provides a visual presentation of the current price divergence.

In addition to divergences, MACD provides a superb display of reversals on minor periods, such as 1, 5 and 15 min. Intersection of the MACD signal line and MFI can serve as an additional signal to open a trade. MFI line color changes after such an intersection.

Input parameters contain the MACD histogram and MFI parameters, as well as caliber - the RSI scaling factor. This factor has been added due to a large variation of MACD values on different timeframes. So, "caliber" for 15 minute EURUSED is about 4, for daily TF "caliber" = 20, for M1 "caliber" =0.5.

The indicator uses the CMoving_Average class from the SmoothAlgorithms.mqh library. The class is described in detail in the article Averaging Price Series for Intermediate Calculations Without Using Additional Buffers.

Fig.1. The MACD_MFI indicator