Delta_MFI – indicator MetaTrader 5

Real author:

Tor

Trend analyzer based on the difference of two MFI oscillators with different periods.

The indicator will be useful for those who analyze two MFI indicators with different periods (fast and slow), their relative positions, as well as the location of the slow MFI relative to the specified level (for example, 50).

That is, if the slow MFI is greater than 50, and the fast MFI is greater than the slow MFI — paint the histogram in overbought color.

If the slow MFI is less than 50, and the fast MFI is less than the slow MFI — paint the histogram in oversold color.

Al settings can be customized: colors, signal level (50), periods of the slow and fast MFI, histogram display type.

//+----------------------------------------------+
//| Indicator input parameters                   |
//+----------------------------------------------+
input TypeGraph            TypeGr=Histogram;       // Type graph
input ENUM_APPLIED_VOLUME VolumeType=VOLUME_TICK;  // volume 
//---
input uint                 MFIPeriod1=14;          // Fast MFI Period
//---
input uint                 MFIPeriod2=50;          // Slow MFI Period
//---
input uint                 Level=50;               // Signal Level
//---
input int                  Shift=0;                // Horizontal indicator shift in bars

The indicator has 5 buffers that can be used at your discretion.

• 0 — Indicator buffer;
• 1 — color indicator buffer with three color states;
• 2 — RSI fast;
• 3 — RSI slow;
• 4 — Difference between two MFI (MACDMFI).

Fig1. Full histogram of the Delta_MFI indicator

Fig.2. Shortened histogram of the Delta_MFI indicator