delta mf i
Info
The delta mf i is a Indicator for MetaTrader 5 that tortrend analyzer based on the difference of two mfi oscillators with different periods. the indicator will be useful for those who analyze two mfi indicators with different periods (fast and slow), their relative positions, as well as the location of the slow mfi relative to the specified level (for example, 50).
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use delta mf i
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
tortrend analyzer based on the difference of two mfi oscillators with different periods.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Footprint X Ray: Advanced Order Flow and Volume Delta Analysis - another powerful indicator for MetaTrader 5 traders.
Also recommended: institutional cumulative volume delta (cvd) indicator - similar indicator with strong performance on MetaTrader 5.
tortrend analyzer based on the difference of two mfi oscillators with different periods.
the indicator will be useful for those who analyze two mfi indicators with different periods (fast and slow), their relative positions, as well as the location of the slow mfi relative to the specified level (for example, 50).
that is, if the slow mfi is greater than 50, and the fast mfi is greater than the slow mfi — paint the histogram in overbought color.
if the slow mfi is less than 50, and the fast mfi is less than the slow mfi — paint the histogram in oversold color.
al settings can be customized: colors, signal level (50), periods of the slow and fast mfi, histogram display type.
the indicator has 5 buffers that can be used at your discretion.
0 — indicator buffer;
1 — color indicator buffer with three color states;
2 — rsi fast;
3 — rsi slow;
4 — difference between two mfi (macdmfi).
fig1. full histogram of the delta_mfi indicator
fig.2. shortened histogram of the delta_mfi indicator
You may also like: Heiken Ashi Delta Indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.