Money Flow Index (MFI) is the indicator, which indicates the rate at which money is invested into a security and then withdrawn from it.
Construction and interpretation of the indicator is similar to Relative Strength Index with the only difference that volume is important to MFI.
When analyzing the money flow index one needs to take into consideration the following points:
- Divergences between the indicator and price movement. If prices grow while MFI falls (or vice versa), there is a great probability of a price turn;
- Money Flow Index value, which is over 80 or under 20, signals correspondingly of a potential peak or bottom of the market.
This version has additional JMA smoothing added to it in order to be able to identify and assess trend changes.
MT5 Indicators – Download Instructions
MFI Smoothed MT5 Indicator is a Metatrader 5 (MT5) indicator and the essence of this technical indicator is to transform the accumulated history data.
MFI Smoothed MT5 Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT5 Strategies
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How to install MFI Smoothed MT5 Indicator.mq5 to your MetaTrader 5 Chart?
- Download MFI Smoothed MT5 Indicator.mq5
- Copy MFI Smoothed MT5 Indicator.mq5 to your Metatrader 5 Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your mt5 indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on MFI Smoothed MT5 Indicator.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator MFI Smoothed MT5 Indicator.mq4 is available on your Chart
How to remove MFI Smoothed MT5 Indicator.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader 5 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
MFI Smoothed MT5 Indicator (Free Download)
Click here below to download: