Pine Scripters Network

Hi Guys,
completely new to coding, so have a patience with me
I have written super simple scrip to indicate overbought levels of MFI.
The problem is that:

• It doesn't indicate all OB levels - only some

• it indicates some levels which are actually not OB

any idea?

Download link for pic
https://we.tl/t-e84aMeViLJ

Script:

//@version=4
study(title="[zwp]=03", overlay=true)

//get input
mfi = mfi(close,14)
ob = mfi >= 80

//to the graph
plotshape(ob, text="OB", color=color.new(color.red, 0))
bgcolor(ob ? color.new(color.aqua,70) : na)

Hi zwp,

from your picture i guess you plotted to built in MFI indicator at the bottom of your chart right?
If you check the source code of that indicator you will see that in that script the hlc3 ((high + low + close)/3) is used for the calculation and you used the close price in your script. That its why you see a visual discrepancy between the two scripts on the charts. If you adjust either of the sources it will be in sync.

Hope this helps you out, best of luck with your coding!

Cheers

Big thanks. I think i understand. Let me try!

FYI: worked. thank you.