MFI_normalized - MetaTrader 5 script | Trading script download - MT4/MT5 resources

Bollinger Bands are used to calculate overbought/oversold areas.

There are four input parameters:

NormMFI = (MFI-BL) / (TL-BL)

TL = BBands(MFI, BB period, BB deviation, UPPER_BAND)
BL = BBands(MFI, BB period, BB deviation, LOWER_BAND)

MFI - Fund flow index (MFI cycle, MFI application volume)
BBands - UPPER_BAND and LOWER_BAND of Bollinger Bands

Figure 1. MFI standardization

Figure 2. MFI Standardization + MFI

Attachment download

📎 mfi_normalized.mq5 (11.93 KB)

Source: MQL5 #23285