AkenMFI is for binary options trading with 5 and 15 minutes Timeframe, indistinctly.
AkenMFI oscillator is closely linked to AkenATR and Akensecutive indicators.
Like its counterpart MFI, it is a Momentum oscillator that uses the price and the volume of a candle to measure the "enthusiasm" of a market or, in other words, the buying and selling's pressure: the so called "overbought" and "oversold" moments.
AkenMFI is the modified version of the classic MFI to adapt its features to Akensecutive's indicators.
Like every other oscillator, the value ranges from 0 to 100.
The Oversold level is <15
The Overbought level is >85
The Period is 5
AkenMFI-Five also works in close cooperation with AkenATR-Five/Fifteen, precious oscillators that you may find for free in MQL5 market.
AkenMFI - AkenATR-Five/Fifteen - Akensecutive-Five/Fifteen work together, to provide a large numbers of signals and help everybody to achieve many winning trades.
- ExtMFIPeriod: 5 is the default setting (please, leave this value as it is, because the algorithm works with this number, anyway, you may change it and experiment new strategies)
- Enable_Alerts: it enables all the alerts if you set "True"
- Enable_Email_Alerts: after setting your email parameters on Metatrader, if "True", you receive alerts on your email address.
- Enable_Mobile_Alerts: after setting your mobile phone parameters on Metatrader, if "True", you receive alerts on your smartphone.
- AlertOnceperCandle: when a candle achieves Candle Target, it generates an alert; but sometimes, during the candle's life, this level may be reached many times so the alerts sound many times too. With "True" option this problem is bypassed because the alert appears once. when a candle is active.