Add Money FLow Index

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Ezequiel Bessone
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Image 5789

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Hello again. Yesterday I told you that I was wanting to create a scalping strategy.

Today I propose to add the Money FLow Index indicator to a strategy that I have that is manual.

I attach a screenshot of how I have configured CommunityPower so that it tells me when the necessary parameters are activated.

Strategy.

For a period of 1H I have an old machine with an open metatrader. In it I have an indicator that I got for free called "RSI With Sound Alarm and Notification"

The moment I receive an alert that a price on my watchlist has an RSI above 80, I open the phone app or if I'm on the desktop I look at the platform.

On the platform I see the CommunityPower indicating that all the parameters are aligned (attached screenshot), the money flow would be missing.

I clarify that the strategy is Manual (for now) I control openings and closings such as moving the stop loss.

Replies 3
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Andrey Khatimlianskyi

Why not connect it as a Custom indy?

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Ezequiel Bessone
Quote from Andrey Khatimlianskyi

Why not connect it as a Custom indy?

Hello Andrey, the idea is that operations are executed when 4 conditions are met.

1.RSI +/- 80

2. Stoch +/- 80

3. ADX (DI+/DI-) -4.5

4. MFI +/- 80

Trades in favor of the trend preferably (See Weekly price)

Countertrend operations with stop loss running through 5-minute candles

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0
Andrey Khatimlianskyi
Quote from Ezequiel Bessone

Hello Andrey, the idea is that operations are executed when 4 conditions are met.

1.RSI +/- 80

2. Stoch +/- 80

3. ADX (DI+/DI-) -4.5

4. MFI +/- 80

Trades in favor of the trend preferably (See Weekly price)

Countertrend operations with stop loss running through 5-minute candles

Ok

Connect MFI as a Custom indy, and use Open on = Collective signal for all indicators you mentioned.

I suggest to start with the single signal, check it, and add new signals one by one.