MFI CONVERGENCE DIVERGENCE

Type : Indicator, Name : MFI Convergence Divergence

inputs:
FastLength(12),
SlowLength(26),
SignalLength(9) ,
MFILength (14) ;
;
Variables:

MFI_CD( 0 ), { MFI Convergence Divergence Value }
MFI_Signal( 0 ), { MFI-CD Signal Line }
MFI_Diff( 0 ) { MFI-CD, Signal Line Difference }
;

{ Calculate MFI CD Values }
MFI_CD = MACD( Moneyflow(MFILength), FastLength, SlowLength ) ; { Calculate MACD of MFI }
MFI_Signal = Average(MFI_CD, SignalLength); { Calculate Signal Line }
MFI_Diff = MFI_CD – MFI_Signal;
Plot1( MFI_Signal, “MFI_Signal” ) ;
Plot2( MFI_Diff, “MFI_Diff” ) ;
Plot3( 0, “ZeroLine” ) ;

{ Alert criteria }
if Plot1 crosses over 0 then
Alert( “Bullish alert” )
else if Plot1 crosses under 0 then
Alert( “Bearish alert” ) ;