PROTECTED SOURCE SCRIPT

Bender Money Flow Index MTF with Buy & Sell Signals

Updated

MFI = Money Flow Index
MTF = Multi Timeframe
The Money Flow Index (MFI) is a technical indicator that can generate sentiment insight or pressure using both price and volume data.

Configurable Indicator Signals

Signal on MFI line directional changes
Invalidate Signal if not in a overbought or oversold pressure zone
Invalidate signal if MFI line is not in confluence with the moving average
Invalidate signal after a defined number of bars in the opposing direction

Please Note:
This indicator is also embedded in the Bender Bot strategy script. Signals and confluence identified by this indicator can be used to autonomously mange strategies. The below features will not have any effect on this indicator's functionality when used as a stand alone indicator.
Bender Bot Strategy Confluence

Require any signal and MFI directional confluence before opening any trade
Require any signal and MFI and Moving average to be in confluence before opening any trade
Require any signal to be in directional confluence with the full MFI signal

Please feel free to contact me with any questions or concerns.

Release Notes

Fixed A potential repainting issue

Protected script

This script is published closed-source and you may privately use it freely.

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