MFI(Money Flow Index) Indicator
I want to add volume indicators to our oscillator.
The Money Flow Index (MFI) is a technical indicator developed to estimate the strength of the inflow of funds into a specific asset by considering the volume of transactions while comparing price increases and decreases over a period of time.I use the MFI breakout strategy.
I think it will be useful to add it with the new update.
What strategy do you use? How should the indicator be interpreted?
1. In the oversold/overbought section of MFI (more than 80 OR less than 20), the highest and lowest prices are remembered.
2. Order entry when MFI is above 80 OR below 20 + a new chart reaches and breaks through the previous highest or lowest price.
3. Realize revenue with trailing stops