OPEN-SOURCE SCRIPT
MFI * %B [seiglerj]
Updated
Oscillator averaging Money Flow Index and Bollinger Bands' %B
Colored bars indicate buy or sell signals
I have no idea if this is the right way to combine these two, but I'm gonna try it and see what happens
Colored bars indicate buy or sell signals
I have no idea if this is the right way to combine these two, but I'm gonna try it and see what happens
Release Notes
RenameRelease Notes
add names to the plotsRelease Notes
Change the combined signal to a min/max formula that only exceeds the bounds when both MFI and %B do. This reduces erroneous signals and more closely matches published MFI/%B strategies.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.