MFI+ is a MFI study enhanced with a linear regression moving average.
Default Settings: MFI: 13 Linear Regression of MFI: 34
Activate Vertical Bar Highlights and/or Signal Flags for: - MFI Oversold/Overbought. (Default: Highlight Bar) - MFI Extended Oversold/Overbought. (Default: Highlight Bar) - MFI crossing its Linear Regression. (Default: Signal Flag)
Users can also do extra tuning in Style Section of Format options.
To user this indicator we need to observe the market's behaviour and identify which settings are fit for the timeframe and type market you trading.
Recommended suggested settings RSI: 13/14 Linear Regression of RSI: 34/21
The market behaves differently when the pacing changes, volatility change and, when it trends or when it ranges. Develop an understanding of it with the help of this study.
Avoid risking more than 1% per trade. Be responsible for always making a priority about protecting capital and managing risk.
Versionsinformation
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Several cosmetic and default settings changes to be aligned with main RSI Delta and RSI+ scripts.
I thought about backtesting but I cant. Code is hidden. So, I took a closer look - spent 5 min testing several MA combos - this is all
14 and 4 LOL. Your description is absolute fake BS. Nice
D7R
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@alskdj, Script meant to be an improvment of standard MFI. Finding amusing you so emotionally touched by this that get your ego involved. If you actually read carefully description i made changes to the script cloud in Nov 2019 i just didn't specified exactly what was done. This was not done for you copy it was made for ppl who find interesting use it. Likewise, i dont understand why so triggered like this is some sort of ego competition or like i owe you something. Why dont you go mind your own business instead of coming here and end looking like a kid seeking attention just to copy my stuff? People use the script or not. If they like it, they like it, if they dont... they don't. Life carry on, no need to be angry at everything.
alskdj
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@D7R, improvement of MFI by adding MA's to it? OmG! This is genius! LOL... you cant possibly be serious.
Copy your stuff? What stuff? You mean adding 2 MA's to a indicator. O_o
Angry? Over what? Only one angry here seems to be you, getting caught for dressing up 2 MA's and writing nonsense about it.
And please, stop projecting...