The MBFX Timing indicator is a part of the well-known forex “MOSTAFA BELKHAYATE” system.

In fact, MBFX Timing indicator could be compared to a classic stochastic oscillator. It works on a similar principle.

How to trade with the MBFX Timing Indicator?
Look for BUY opportunities when:

MBFX Timing indicator reaches the oversold zone (low levels of the scale).
Late confirmation is line color change to yellow.
Look for SELL opportunities when:

MBFX Timing indicator reaches the overbought zone (high levels of the scale).
Late confirmation is line color change to yellow.

This version 2 seems to be the most comparable to the original strategy than the other older MBFX timing indicator version posted in the library. People would like to trade on the same principle than the Belkhayate system should use this one.

//PRC_MBFX timing 2 | indicator
//06.05.2020
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//converted from MT4 version 

// --- settings 
Len = 7
Filter = 0.0
// --- end of settings 

li224=0
if (ld8 = 0.0) then
 ld8 = 1.0
 ld16 = 0.0
 if (Len - 1 >= 5) then 
  ld0 = Len - 1.0
 else 
  ld0 = 5.0
 endif
 ld80 = 100.0 * ((High[li224] + Low[li224] + Close[li224]) / 3.0)
 ld96 = 3.0 / (Len + 2.0)
 ld104 = 1.0 - ld96
else
 if (ld0 <= ld8) then 
  ld8 = ld0 + 1.0
 else 
  ld8 = ld8+1.0
 endif
 ld88 = ld80
 ld80 = 100.0 * ((High[li224] + Low[li224] + Close[li224]) / 3.0)
 ld32 = ld80 - ld88
 ld112 = ld104 * ld112 + ld96 * ld32
 ld120 = ld96 * ld112 + ld104 * ld120
 ld40 = 1.5 * ld112 - ld120 / 2.0
 ld128 = ld104 * ld128 + ld96 * ld40
 ld208 = ld96 * ld128 + ld104 * ld208
 ld48 = 1.5 * ld128 - ld208 / 2.0
 ld136 = ld104 * ld136 + ld96 * ld48
 ld152 = ld96 * ld136 + ld104 * ld152
 ld56 = 1.5 * ld136 - ld152 / 2.0
 ld160 = ld104 * ld160 + ld96 * Abs(ld32)
 ld168 = ld96 * ld160 + ld104 * ld168
 ld64 = 1.5 * ld160 - ld168 / 2.0
 ld176 = ld104 * ld176 + ld96 * ld64
 ld184 = ld96 * ld176 + ld104 * ld184
 ld144 = 1.5 * ld176 - ld184 / 2.0
 ld192 = ld104 * ld192 + ld96 * ld144
 ld200 = ld96 * ld192 + ld104 * ld200
 ld72 = 1.5 * ld192 - ld200 / 2.0
 if (ld0 >= ld8 and ld80 <> ld88) then 
  ld16 = 1.0
 endif
 if (ld0 = ld8 and ld16 = 0.0) then 
  ld8 = 0.0
 endif
endif

if (ld0 < ld8 and ld72 > 0.0000000001) then 
 ld24 = 50.0 * (ld56 / ld72 + 1.0)
 if (ld24 > 100.0) then 
  ld24 = 100.0
 endif
 if (ld24 < 0.0) then 
  ld24 = 0.0
 endif
else 
 ld24 = 50.0
endif

if (ld24>ld24[1]- Filter) then
 dirbar=1
 r=0
 g=128
endif
if (ld24<ld24[1]+Filter) then 
 dirbar=-1
 r=255
 g=165
endif
if (ld24=ld24[1]+Filter) then 
 dirbar=0
endif
if dirbar<>dirbar[1] then 
 r=255
 g=255
endif
 

return ld24 coloured(r,g,0) style(line,2) as "MBFX timing",70 coloured(168,168,168) style(dottedline), 30 coloured(168,168,168) style(dottedline), 50 coloured(168,168,168) style(dottedline)