matt_b

MFI Divergence v2

Edited the RSI div indicator by Libertus to use MFI & show on candles. V2 update filters the divs using stochastic oversold & overbought & removes the lagging signals (they were offset back by 1 bar).
Default settings were tuned for xbtusd 1hr; works well if after a signal you wait for a stochastic indicator to stop being oversold or overbought, so if eg. you see a cluster of sell signals at a top, wait for the stoch to cross below 80 before entry. Please backtest before trading with this, DYOR NFA GLHF!
Release Notes: Alert conditions working now. To use them create an alert as usual then in the condition menu pick 'mfi divs' & either 'bull div' or 'bear div'.
Release Notes: added ability to set lookback periods per timeframe
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

This is absolutely awesome! Thanks
+1 Reply
Awesome! ^_^
+1 Reply
This is a great indicator! My only issue is that the alerts seem to be a little inconsistent as some bull / bear divs that show up on the charts don't trigger alerts even though I have the timeframe and everything else set correctly. Any idea why this might be?
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hi i have a question
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HI! This looks great. Would love to use it but I'm getting an error about length equaling 0 in the highestbars function when i add it to my chart. Any ideas?

Thanks!
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matt_b ivanlandjr
@ivanlandjr, make sure the lookback periods, mfi length etc are not set to zero. Other than that I'm not sure what the problem could be, the 'highest bars' thing is a built in function in TV that I can't change.
+3 Reply
Awesome thanks!
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