MFI_Slowdown - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

A semaphore signal indicator based on the MFI indicator with the ability to alert, send emails and push notifications to mobile devices.

This indicator is based on the idea that a price reversal occurs before a decrease in the indicator's rate of change and its reversal. To do this, it searches for a range where price starts to stall in the overbought or oversold zones of the Fast MFI indicator.

This indicator provides the ability to mark these areas with arrows on the chart. It is also possible to disable MFI slowdown searching. In this case, the indicator will only show the exceedance of the MFI levels specified in the settings - the maximum level and the minimum level .

 //+------------------------------------------------------------------------+
//|Indicator input parameters |
//+------------------------------------------------------------------------+
Input unit MFIP period = 2 ; // MFI period
INPUT ENUM_APPLIED_VOLUME MFI_VolumeType= Volume_Scale ; // Volume
Input double maximum level = 90 ; // maximum signal level
Enter double minimum level = 10 ; // minimum signal level
Input boolean seek_slow_true ; // seek_slow_down
Enter integer shift = 0 ; // indicator moves horizontally (in bars)
//---- Input variables for alerts
Input unit number = 1 ; // Number of bars of the signal
Input boolean sound on = true ; // Enable alert
Input unit alarm number = 2 ; // number of alarms
input boolean email-on = false ; // Enable mailing signal
input boolean pressed = false ; // Enable signaling to mobile devices

Figure 1. MFI_Slowdown indicator

Figure 2. MFI_Slowdown indicator generates alert

Attachment download

📎 mfi_slowdown.mq5 (25.91 KB)

Source: MQL5 #16527