MFI & VRSI [victhoreb]

The MFI & VRSI indicator is a custom volume-based oscillator that combines two powerful momentum tools: a modified Money Flow Index (MFI) and a Volumatic Relative Strength Index (VRSI). This dual-oscillator approach is designed to capture both price momentum and volume dynamics, providing traders with enhanced insight into market conditions.

Key Features:

- Modified Money Flow Index (MFI):
Unlike the traditional MFI, this version uses a unique calculation that emphasizes the direction and magnitude of price changes weighted by volume.

- Volumatic Relative Strength Index (VRSI):
This oscillator is an adaptation of the classic RSI, integrating volume data to assess the strength of price movements.

- Overbought/Oversold Conditions:
Both oscillators are equipped with customizable overbought and oversold thresholds. A buy signal is suggested when both the MFI and VRSI fall below their respective oversold levels, while a sell signal is indicated when both exceed their overbought thresholds.

- Optimized for Lower Timeframes:
Given its reliance on volume data, the indicator is especially effective on lower timeframes (from 10 minutes downward), where volume and price action are more granular and can provide timely trade signals.

Whether you’re looking to spot potential reversals or confirm trend strength, the VRSI indicator offers a versatile and insightful tool to complement your trading strategy.