Dato896
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The core of the "MRA Index" is a hybrid line, calculated using Money Flow Index (MFI), Relative Strength Index (RSI), and Average True Range (ATR), offering a nuanced view that considers both market momentum and volatility. The indicator is enhanced with a Standard Deviation (STD) channel and offers clear buy/sell arrows under specific conditions, adding to its precision.
What sets the "MRA Index" apart is its adaptability; it allows you to include or exclude ATR from the calculation, depending on your sensitivity preference to market volatility. It also includes the innovative FTR filter, coloring the area below the hybrid line to reflect market conditions, and the option to utilize Bollinger Bands as a filter for drawing arrows, providing additional layers of analysis for confident decision-making.
Formula (MFI+RSI) /2 * atr check screens and lets discuss what to add there or remove from formula. here are some screens
What sets the "MRA Index" apart is its adaptability; it allows you to include or exclude ATR from the calculation, depending on your sensitivity preference to market volatility. It also includes the innovative FTR filter, coloring the area below the hybrid line to reflect market conditions, and the option to utilize Bollinger Bands as a filter for drawing arrows, providing additional layers of analysis for confident decision-making.
Formula (MFI+RSI) /2 * atr check screens and lets discuss what to add there or remove from formula. here are some screens