MRA Index

You get Ea based on MRA Index for free as a Bonus in case of indicator purchase. 

For scalping I optimize sets on period of last 12 months and use it next 1 month, this way it works very well !

Default settings are just for visualisation, it can not be profitable with it, recommended set files I share with buyers.

The "MRA Index" forex indicator is a versatile tool that combines various technical elements to provide traders with valuable insights into potential market trends and entry points. It utilizes several features, including a Standard Deviation (STD) channel drawn in a separate window and a hybrid line that moves within this channel. Additionally, it offers buy and sell arrows based on specific conditions involving the hybrid line and the STD channel.

The hybrid line is calculated as (MFI + RSI) / 2 * ATR, where MFI represents the Money Flow Index, RSI stands for the Relative Strength Index, and ATR denotes the Average True Range. This formula provides traders with a composite value that accounts for both market momentum (MFI and RSI) and market volatility (ATR).

The buy arrow is generated when the hybrid line crosses the lower line of the STD channel from below to above. This signal suggests a potential upward trend reversal or entry point for a buy position. Conversely, the sell arrow is triggered when the hybrid line crosses the upper line of the STD channel from above to below. This signal indicates a possible downward trend reversal or a suitable moment to enter a sell position.

The indicator also offers users the option to enable or disable ATR from the hybrid line formula. This flexibility allows traders to customize the indicator based on their preferences and adjust its sensitivity to market volatility.

Furthermore, the "MRA Index" indicator provides the choice to activate or deactivate the Bollinger Bands (BB) as a filtering mechanism for drawing buy and sell arrows. When the BB filter is enabled, the indicator only draws a buy arrow if the closing price of a candle is above the lower band of the BB, and it draws a sell arrow if the closing price is below the upper band of the BB. This additional filtering helps traders to identify potential trend reversals with increased confidence.

Moreover, the indicator includes an optional filter known as the FTR filter. This filter paints the area below the hybrid line in different colors to indicate market conditions. A crimson color signifies a downward trend, a dodger blue color represents an upward trend, and a golden color indicates a flat or neutral market.

Overall, the "MRA Index" indicator provides traders with a comprehensive set of tools to analyze market trends, assess market volatility, and identify potential entry and exit points. However, it is crucial for traders to remember that no indicator can guarantee profitable trades, and prudent risk management should always be practiced. Traders are encouraged to use the "MRA Index" indicator in conjunction with other analysis techniques to make well-informed trading decisions.

Explanation of the Input Parameters:

1. UseATR : Set this to "true" to include Average True Range (ATR) in the hybrid line formula, and "false" to exclude it.
2. periodATR : The period used for calculating the Average True Range (ATR).
3. periodMFI : The period used for calculating the Money Flow Index (MFI).
4. periodRSI : The period used for calculating the Relative Strength Index (RSI).
5. Std_Period : The period used for calculating the Standard Deviation (STD) for the channel.
6. TimeFrame : The time frame used for the indicator's calculations (default is H4 - 4-hour timeframe).
7. periodFTR : The period used for the FTR filter, which determines the coloring of the area below the hybrid line (FTR stands for Flat, Trend, Reversal).
8. UseBB : Set this to "true" to enable the Bollinger Bands (BB) filtering for drawing arrows, and "false" to disable it.
9. bbTF : The time frame used for the Bollinger Bands (BB) calculation (default is the current chart timeframe).
10. bbPeriod : The period used for calculating the Bollinger Bands (BB).
11. bbDeviat : The deviation used for calculating the Bollinger Bands (BB).
12. bbPrice : The applied price used for calculating the Bollinger Bands (BB).
13. History : The number of bars to calculate the indicator for. If set to 0, it will calculate for all available bars.
14. alertsOn : Set this to "true" to enable alerts for buy and sell signals, and "false" to disable them.
15. alertsMessage : Set this to "true" to enable pop-up message alerts.
16. alertsPush : Set this to "true" to enable push notification alerts.
17. alertsSound : Set this to "true" to enable sound alerts.
18. alertsEmail : Set this to "true" to enable email alerts.

These input parameters allow traders to customize the behavior of the "MRA Index" indicator according to their preferences and trading strategies.