MFI - Money Flow Index momentum and flow (MT4)

MFI is a volume weighted RSI that uses price and tick volume to spot overbought or oversold, divergence and failure swings. It helps time pullbacks and exits on MetaTrader 4.

What it shows

• Zones: common bands 20-80 or 30-70 for oversold and overbought.
• Divergence: price makes HH or LL while MFI lags - possible reversal.
• Failure swings: MFI turns before crossing the opposite band - momentum shift.
• Optional alerts on band crosses, midline crosses and divergence if provided.

Trade ideas

1. Pullback with trend: buy pullbacks while MFI holds above 50 and rejects 40-45. Mirror for shorts.
2. Reversal band cross: after extreme above 80 or below 20, wait for cross back through 50 plus structure break.
3. Divergence plus trigger: divergence alone is early - add a break of a swing point or a candle pattern.
4. Multi TF: higher TF MFI above 50 as bias, entries on lower TF when it flips with price.

Inputs that matter

• Period (classic 14).
• Bands and midline values.
• Price source for typical price and tick volume usage.
• Alerts for band and midline events.

Suggested usage

• M5-M15: intraday pullbacks and exits.
• M30-H4: swing continuation and failure swings.
• Daily+: regime bias and risk trimming.

Installation (MT4)

1. Open MetaTrader 4 - File - Open Data Folder.
2. Copy MFI.ex4 to MQL4/Indicators.
3. Restart MT4 or refresh Navigator and attach MFI.
4. Adjust inputs - OK.

FAQ

Does it repaint? No on closed bars.
Why not RSI? MFI includes tick volume, so it can react differently in ranges.
Use in EAs? Yes, via iCustom.

Disclaimer: Always test on a demo first - risk management matters.