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MFIWithFlat - indicator for MetaTrader 5

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(26)

Published:

8 July 2014, 11:17

Updated:

22 November 2016, 07:32

mfiwithflat.mq5 (9.35 KB) view

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Money Flow Index with the market flat state detection option. If the market is flat, the colored indicator cloud shrinks and is located at the value of 50, and a thick gray line appears. The criterion for determining this state is a shrunk Bollinger. The critical Bollinger shrink value is fixed by a half of its bandwidth and defined in the indicator input:

input uint flat=100; // flat value in points

Figure 1. Indicator MFIWithFlat

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/11267

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MFIWithFlat - indicator for MetaTrader 5

Nikolay Kositsin