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

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

This indicator is useful for those who analyze two MFI indicators with different periods (fast and slow), their relative position, and the position of the slow MFI relative to a specified level (eg 50).

That is, if the slow MFI is greater than 50, and the fast MFI is greater than the slow MFI - plot the histogram with overbought colors.

If Slow MFI is less than 50 and Fast MFI is less than Slow MFI - plot the histogram with oversold color.

All settings are customizable: color, signal level (50), slow and fast MFI period, histogram display type.

 //+------------------------------------------------------------------------+
//|Indicator input parameters |
//+------------------------------------------------------------------------+
Input TypeGraph TypeGr=Histogram; // Input chart
input ENUM_APPLIED_VOLUME volume type = volume_scale ; // volume
//---
Input unit MFIPeriod1= 14 ; // Fast MFI cycle
//---
Input unit MFIPeriod2= 50 ; // Slow MFI period
//---
Input unit level = 50 ; // signal level
//---
Input integer shift = 0 ; // indicator moves horizontally (in bars)

The indicator has 5 buffers which you can use at your discretion.

Figure 1. Complete histogram of the Delta_MFI indicator

Figure 2. Shortened histogram of the Delta_MFI indicator

Attachment download

📎 delta_mfi.mq5 (15.75 KB)

Source: MQL5 #16485