MFI_Slowdown – indicator MetaTrader 5

Real author:

Tor

Semaphore signal indicator based on the MFI indicator, which features alerts, sending emails and push-notifications to mobile devices.

The indicator is based on the idea that the price reversal is preceded by a reduction in indicator change rate and its reversal. For this purpose, it searches for the intervals where the price begins to stagnate in the overbought or oversold area of the fast MFI indicator.

The indicator provides the ability to mark these areas with arrows on the chart. It is also possible to disable searching for the MFI slowdowns. In that case, the indicator will simply display exceedance of the MFI levels specified in the settings — LevelMax and LevelMin.

//+----------------------------------------------+
//| Indicator input parameters                   |
//+----------------------------------------------+
input uint MFIPeriod=2;                                // MFI Period
input ENUM_APPLIED_VOLUME MFI_VolumeType=VOLUME_TICK;  // volume 
input double LevelMax=90;                       // Signal Level Max
input double LevelMin=10;                       // Signal Level Min
input bool SeekSlowdown=true;                   // Seek Slowdown
input int Shift=0;                              // Horizontal indicator shift in bars
//---- Input variables for alerts 
input uint NumberofBar=1;                       // Bar number for the signal
input bool SoundON=true;                        // Enable alerts
input uint NumberofAlerts=2;                    // Number of alerts
input bool EMailON=false;                       // Enable mailing the signal
input bool PushON=false;                        // Enable sending the signal to mobile devices

Fig1. The MFI_Slowdown indicator

Fig.2. The MFI_Slowdown indicator generating alert