OPEN-SOURCE SCRIPT

Money Flow Index (mit Pivot-Divergenzen)

210
SKb_

This indicator enhances the traditional Money Flow Index (MFI) by adding a pivot-based divergence detection system and visual background signals for overbought and oversold conditions.

✨ Key Features:
✅ Money Flow Index (MFI) Plot:
Plots the MFI value with customizable length (default 14).

✅ Overbought/Oversold Highlighting:
Automatically shades the background light green when MFI > 80 and light red when MFI < 20 for better visual alerts.

✅ Pivot-Based Divergence Detection:
Detects both bullish and bearish divergences between MFI and price using pivot highs and lows (configurable pivot strength).
– Bullish divergence: price makes a lower low, MFI makes a higher low
– Bearish divergence: price makes a higher high, MFI makes a lower high

✅ Divergence Signals Plotted on Chart:
Plots lime green triangles below bars for bullish divergence and red triangles above bars for bearish divergence.

✅ Customizable Pivot Sensitivity:
The pivotLen input allows you to adjust how significant a swing high/low must be to qualify as a pivot.

Usage:
This indicator helps traders spot potential trend reversals by combining momentum (MFI) with divergence signals based on pivot points.
It can be used standalone or as a confirmation tool alongside other technical indicators.

Recommended for swing traders, momentum traders, or anyone wanting to identify divergences with a reduced noise level compared to bar-by-bar divergence detection.

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.