VolumeRSI settings

Note
Since the MFI part of this indicator is volume based it’s best to set it’s Calculate parameter to ‘On each tick’.

Alerts

  • When the Signals line (MFI or RSI) crosses 80 from above or 20 from below
  • When the Signals line (MFI or RSI) crosses the EMA
  • Optionally when the third bullish or bearish bar forms

Signals

Strong LongWhen both RSI and MFI have a Strong Long
Weak LongWhen either RSI or MFI has a Weak Long and none has a Short signal
NoneWhen note of the conditions are valid
Weak ShortWhen either RSI or MFI has a Weak Short and none has a Long signal
Strong ShortWhen both RSI and MFI have a Strong Short
Signals depend upon the choice for the main line, average line and signals settings.
See RSI and MFI for their Signal definitions

Settings

Main line MFI or RSIChoose whetheryou want the main line based on MFI or RSI
Average line MFI or RSIChoose whetheryou want the average line (EMA) based on MFI or RSI
Signals based on MFI or RSIChoose whether you want the Signals based on MFI or RSI
RSI PeriodThe number of bars to evaluate the RSI
MFI PeriodThe number of bars to evaluate the MFI
EMA of RSI/MFIThe period for an EMA of the RSI of MFI
Displace EMAThe number of bars to shift the EMA forwards
Fast line periodThe period for an invisible fast MFI or RSI, used to validate Strong signals
Squeeze periodThe period for an optional BB Squeeze, i.e. when the Bollinger is inside the Keltner Channel
Color barsColor the bars green when RSI is above 60 and red when RSI is below 40, otherwise the bars are colored silver
Show 3bars up/downShow a green or red vertical line when there are 3 consecutive up or down bars
Lines & PlotsThe style of the differents lines of the indicator.
Signal trend is shown on the 40/60 line, Both trend is shown on the 10/90 line and BBSqueeze is shown on the 50 line
OverboughtThe overbought signals are placed on the 40 line and are best viewed as red downward arrows
OversoldThe oversold signals are placed on the 60 line and are best viewed as green upward arrows