Free Surge Flux Indicator

Indicator Description

This indicator utilizes adjusted Money Flow Index (MFI) settings to generate buy and sell signals. It also includes 20, 55, and 100 Exponential Moving Averages (EMAs), along with an optional rule toggle that plots buy/sell signals only when the EMAs are in a bullish or bearish alignment. This feature helps increase signal accuracy by filtering out most false signals.

Additionally, Bollinger Bands are incorporated to assist with safer position exits at the upper or lower band. This technique is designed for scalping and quick in-and-out trades.

The script is primarily based on Money Flow Index (MFI) divergences. When a bullish divergence is detected on the modified MFI, a bull signal label is printed on the chart. Conversely, when a bearish divergence is detected, a bear label appears on the corresponding candle.

To further reduce false signals, a set of EMAs is integrated into the settings. The 20, 55, and 100 EMAs help define the price action trend. On 30-minute or 1-hour timeframes, a 20 EMA crossing above the 55 EMA signals the beginning of an uptrend, while a 55 EMA crossing above the 100 EMA confirms a strong bullish trend.

Thanks to the built-in toggle settings (“Apply 20/55 Rule” or “Apply 55/100 Rule”), users can prevent bear labels from printing when the EMAs indicate a bullish alignment. The same logic applies to bearish trends: if the 20 EMA is below the 55 EMA or the 55 EMA is below the 100 EMA, separate toggles allow users to filter out bull labels during bearish conditions.

Once a trend is identified and a position is entered, there are multiple exit strategies:

Next Opposite Signal: Exit upon the next EMAs crossover or the appearance of an opposite bull/bear label.

Bollinger Bands: If enabled, traders can use the Bollinger Bands to refine entries and exits. Short scalp trades against the trend can be executed when signals print at the upper or lower bands, with exits at the middle (baseline) or opposite band.

This indicator is optimized for 30-minute and 1-hour timeframes, but it is recommended to analyze past price action to determine the best settings for a specific asset.

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