MFITradeWaves

Jan 28

Core Functionalities
Buy & Sell Signals:

Generates buy and sell signals based on:
Trend direction (up or down).
Money Flow Index (MFI) values.
Confirmation of bullish or bearish candle structures.
Alerts can be configured for buy/sell conditions.
Includes customizable signal coloring and optional real-time price labels.
Profit Target System:

Automatically calculates and plots profit target lines based on a user-defined tick/pip/cents value.
Includes settings for:
Maximum number of target lines displayed.
Customizable colors and styles.
Background Trend Highlighting:

Dynamically changes the background color to reflect:
Bullish trends (e.g., greenish shades).
Bearish trends (e.g., reddish shades).
Candle Coloring:

Customizes candle colors based on:
Profit wave conditions (fast EMA above/below the price).
Trend conditions (bullish/bearish).
Offers full control over colors and settings.
Support and Resistance Lines:

Automatically identifies and plots pivot high/low levels for support/resistance.
Includes:
Configurable line styles, colors, and widths.
Automatic adjustment when lines are touched by price or closed beyond.
Limits on the number of support/resistance lines plotted.
Profit Waves:

Visualizes profit-taking opportunities using three EMA levels:
Fast EMA (8-period), Medium EMA (13-period), and Slow EMA (21-period).
Provides:
Color-coded zones for bullish and bearish conditions.
Fill effects between EMAs to indicate directional strength.
Linear Regression Channel:

Optional price channel feature with:
Configurable sensitivity.
Top/bottom channel colors.
Extending lines left/right.
Money Flow Index Dashboard:

Plots the MFI oscillator and its corresponding trend (bullish/bearish).
Displays overbought/oversold zones with customizable gradients.
Includes trend-switch dots for quick visual interpretation.
Real Price Line:

Adds a real-time price line with options for:
Line styles (solid, dashed, dotted).
Close-price dots for further clarity.
Signal Alerts:

Provides alert conditions for:
Buy/sell signals.
Support/resistance breakouts.
Alerts can be easily modified for specific scenarios.
Dashboard Integration:

Displays key metrics in a dashboard format:
Buy/Sell signals.
MFI value and trend.
Trend-switch dots.
Overbought/Oversold zones.
Inputs & Settings
Signal Settings:
Enable/Disable buy & sell signals.
Signal colors and optional price display.
Chop filter to reduce signals in ranging markets.
Profit Settings:
Enable profit target lines and wave visuals.
Customize colors, line counts, and target values.
Trend Background:
Highlight bullish/bearish trends with customizable colors.
Candle Coloring:
Candle colors can be set to reflect either:
Profit waves.
Trend direction.
Support/Resistance:
Enable dynamic support/resistance levels.
Customize line colors, styles, and max line count.
Real Price Line:
Display real-time price lines with dots for close prices.
Linear Regression Channel:
Enable/disable regression channels for price movement visualization.
Dashboard:
Enable buy/sell signals, trend-switch dots, and MFI trends.
How It Works
Trend Calculation:

Based on trend up/down levels, with adjustments using ATR multipliers.
Background changes based on whether the price is above or below trend lines.
Buy/Sell Logic:

Buy condition:
Bullish trend.
Strong bullish candles.
MFI above a threshold.
Sell condition:
Bearish trend.
Strong bearish candles.
MFI below a threshold.
Profit Targets:

Calculates target levels dynamically for every buy/sell signal.
Support/Resistance:

Detects pivot highs/lows and extends lines until touched.
Profit Waves:

Uses three EMA levels to visualize potential price waves.
Linear Regression:

Tracks the price movement across regression channels.
Alerts:

Alerts are triggered when conditions for buy/sell are met.

May 22

Release Notes

MFI TRADE WAVES NEW UPDATE