Watch the testing video here:
MFI RSI Divergence Indicator
Introduction to the MFI RSI Divergence Indicator
The MFI RSI Divergence indicator is a forex tool based on Money Flow Index and Relative Strenght Index.
It recognizes, spots, and displays divergence. Additionally, it provides buy/sell arrows for bullish and bearish divergences.
We suggest using it for entries and exit ideas or as a filter in your favorite trading strategy.
The indicator is displayed in a separate window placed just below the main trading chart. It fits all kinds of timeframes and currency pairs.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
See also: COG RSI Indicator
How to set up the MFI RSI Divergence indicator in MT4?
Download the MFI RSI Divergence.rar archive at the bottom of this post, unpack it, then copy and paste the MFI RSI Divergence.ex4 or MFI RSI Divergence.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
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