Add Money FLow Index
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.
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.