Using MFI as trade trigger
Author: buckeye50
Creation Date: 8/27/2009 4:01 PM
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I am a new user. Developed trading strategy using MFI at 10 days with a buy at 45 and a sell at 70. Backtested results are very positive for my 20 portfolion of stocks. Would like to strenghen confirm buy/sell by adding another indicator. Tried 3 day MA and 3 day bar but neither seemed enhance results. Any thougths appreciated. Thank you.
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Just a word of caution. To provide an additional confirmation, try using a non-correlated indicator. For example, mixing RSI and MFI wouldn't make sense as if they're derived from the same information. There need to be some difference.
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