Delta MF I
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup 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.
Description & Settings
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Trend 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
