Strategy library · Momentum oscillators
Money Flow Index 20/80 backtest on NQ and ES futures
Money Flow Index (14) 20 / 80
Also called: MFI 20 80 strategy, MFI 14 strategy, money flow index oversold overbought, buy when the Money Flow Index crosses back above 20, short when the Money Flow Index crosses back below 80
What happens if you buy NQ every time the Money Flow Index crosses back above 20?
What it is
The money flow index (MFI, 14 periods) is a volume-weighted version of the RSI on a 0 to 100 scale. This strategy goes long when the MFI crosses back above 20, short when it crosses back below 80, and exits when the MFI reaches 80 (longs) or 20 (shorts).
What it did
On NQ futures from 2024-10-08 to 2026-10-07, the Money Flow Index 20/80 strategy took 413 trades on the 15-minute chart, won 52.5% of them and finished -1,997.50 points (-$39,950 on one NQ contract), before commission and slippage. From 2024-10-08 to 2026-10-07 on NQ, the 199 long trades on the 15-minute chart won 57.3% and made -2,306.75 points (-$46,135 on one NQ contract), before commission and slippage. On ES futures from 2024-08-28 to 2026-08-27, the Money Flow Index 20/80 strategy took 440 trades on the 15-minute chart, won 49.8% of them and finished 327.75 points ($16,388 on one ES contract), before commission and slippage. The 5-minute, 1-hour and daily results for both markets are in the table on this page.
How it was tested
CE Market Solutions tested the Money Flow Index 20/80 strategy on NQ (2024-10-08 to 2026-10-07) and ES (2024-08-28 to 2026-08-27) futures, before commission and slippage, with each signal filled at the next bar's open, intraday positions flat at 15:59 ET and textbook default indicator settings; the NQ trades are listed on this page and the ES trades under the ES tab.
See it tested with one change · $19
Tested by CE Market Solutions on 2026-10-26. The trades are listed below, one market at a time. Gross, no commission or slippage. Last 2 years.
Results
Rule as tested: Long when MFI crosses back above 20; short when it crosses back below 80. Exit: MFI reaches 80 / 20.
| Timeframe | NQ · 2024-10-08 to 2026-10-07 | ES · 2024-08-28 to 2026-08-27 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Trades | Win % | Avg pts | Profit factor | Net pts | Net $ (1 NQ) | Max DD pts | Trades | Win % | Avg pts | Profit factor | Net pts | Net $ (1 ES) | Max DD pts | |
| 5 minute | 637 | 51.8% | −5.28 | 0.908 | −3,361.00 | −$67,220 | 5,942.50 | 677 | 52.4% | 0.17 | 1.016 | 118.00 | $5,900 | 1,036.75 |
| 5 minute · longs only | 305 | 55.1% | — | — | −26.75 | −$535 | 2,909.50 | 323 | 52.9% | — | — | 200.75 | $10,038 | 650.50 |
| 5 minute · shorts only | 332 | 48.8% | — | — | −3,334.25 | −$66,685 | 4,528.00 | 354 | 52.0% | — | — | −82.75 | −$4,137 | 823.50 |
| 15 minute | 413 | 52.5% | −4.84 | 0.919 | −1,997.50 | −$39,950 | 4,212.00 | 440 | 49.8% | 0.74 | 1.062 | 327.75 | $16,388 | 941.75 |
| 15 minute · longs only | 199 | 57.3% | — | — | −2,306.75 | −$46,135 | 3,275.75 | 208 | 53.9% | — | — | 203.25 | $10,163 | 464.00 |
| 15 minute · shorts only | 214 | 48.1% | — | — | 309.25 | $6,185 | 2,559.00 | 232 | 46.1% | — | — | 124.50 | $6,225 | 798.25 |
| 1 hour | 270 | 47.4% | −4.00 | 0.920 | −1,078.75 | −$21,575 | 2,168.25 | 292 | 45.6% | −2.06 | 0.818 | −602.00 | −$30,100 | 734.00 |
| 1 hour · longs only | 139 | 51.1% | — | — | −1,525.00 | −$30,500 | 2,203.00 | 145 | 43.5% | — | — | −480.25 | −$24,012 | 587.75 |
| 1 hour · shorts only | 131 | 43.5% | — | — | 446.25 | $8,925 | 952.75 | 147 | 47.6% | — | — | −121.75 | −$6,087 | 329.50 |
| Daily | 5 | 40.0% | −908.80 | 0.366 | −4,544.00 | −$90,880 | 5,729.25 | 1 | 0.0% | −1,676.50 | 0.000 | −1,676.50 | −$83,825 | 1,676.50 |
| Daily · longs only | 2 | 50.0% | — | — | 784.75 | $15,695 | 656.25 | 0 | — | — | — | — | — | — |
| Daily · shorts only | 3 | 33.3% | — | — | −5,328.75 | −$106,575 | 6,514.00 | 1 | 0.0% | — | — | −1,676.50 | −$83,825 | 1,676.50 |
NQ Daily: small sample (5 trades). ES Daily: small sample (1 trade).
Free to use with credit to CE Market Solutions (CC BY 4.0).
NQ 1 hour: the equity line
Long and short
| Side | Trades | Net pts |
|---|---|---|
| Long | 139 | −1,525.00 |
| Short | 131 | 446.25 |
By month
| Month | Trades | Net pts |
|---|---|---|
| 2024-10 | 12 | −32.75 |
| 2024-11 | 10 | −137.00 |
| 2024-12 | 11 | −432.25 |
| 2025-01 | 14 | −183.75 |
| 2025-02 | 14 | −390.00 |
| 2025-03 | 9 | −424.00 |
| 2025-04 | 11 | 923.25 |
| 2025-05 | 9 | −143.50 |
| 2025-06 | 6 | −13.25 |
| 2025-07 | 12 | −209.50 |
| 2025-08 | 12 | −116.00 |
| 2025-09 | 11 | −95.75 |
| 2025-10 | 11 | 121.25 |
| 2025-11 | 12 | 793.50 |
| 2025-12 | 15 | −43.25 |
| 2026-01 | 15 | 245.75 |
| 2026-02 | 10 | 198.75 |
| 2026-03 | 14 | −679.00 |
| 2026-04 | 10 | −43.50 |
| 2026-05 | 10 | 407.50 |
| 2026-06 | 6 | 62.25 |
| 2026-07 | 14 | −1,282.50 |
| 2026-08 | 8 | −91.75 |
| 2026-09 | 10 | 89.75 |
| 2026-10 | 4 | 397.00 |
Every trade, NQ 1 hour270 trades
Pick any of the 270 charted trades with Previous, Next or a date, or click a row in the trades table below, to see it drawn on the real 1-minute bars. Drag the chart sideways to move through the sessions around it.
Chart unavailable. The trades are in the table below.
All trades (270), newest first
Times are New York time; points are gross. Click a row to draw that trade in the chart above.
| Session date | Side | Entry (ET) | Entry price | Exit (ET) | Exit price | Exit reason | Points |
|---|---|---|---|---|---|---|---|
| 2024-11-26 | short | 11:00 | 20950.00 | 15:59 | 20989.75 | end of day 15:59 | −39.75 |
| 2024-11-25 | long | 12:00 | 20904.75 | 15:59 | 20878.00 | end of day 15:59 | −26.75 |
| 2024-11-20 | long | 12:00 | 20688.50 | 15:59 | 20752.25 | end of day 15:59 | 63.75 |
| 2024-11-19 | short | 15:00 | 20739.25 | 15:59 | 20765.25 | end of day 15:59 | −26.00 |
| 2024-11-14 | long | 12:00 | 21101.75 | 15:59 | 21008.50 | end of day 15:59 | −93.25 |
| 2024-11-11 | long | 12:00 | 21203.25 | 15:59 | 21220.25 | end of day 15:59 | 17.00 |
| 2024-11-05 | short | 15:00 | 20294.00 | 15:59 | 20341.25 | end of day 15:59 | −47.25 |
| 2024-11-01 | short | 14:00 | 20157.75 | 15:59 | 20147.00 | end of day 15:59 | 10.75 |
| 2024-10-31 | long | 13:00 | 20086.75 | 15:59 | 20011.25 | end of day 15:59 | −75.50 |
| 2024-10-30 | long | 11:00 | 20650.00 | 15:59 | 20534.50 | end of day 15:59 | −115.50 |
| 2024-10-28 | long | 14:00 | 20555.50 | 15:59 | 20500.50 | end of day 15:59 | −55.00 |
| 2024-10-25 | short | 12:00 | 20620.25 | 15:59 | 20495.00 | end of day 15:59 | 125.25 |
| 2024-10-24 | long | 13:00 | 20357.50 | 15:59 | 20380.00 | end of day 15:59 | 22.50 |
| 2024-10-22 | long | 10:00 | 20461.00 | 15:59 | 20539.75 | end of day 15:59 | 78.75 |
| 2024-10-16 | long | 11:00 | 20273.75 | 15:59 | 20346.25 | end of day 15:59 | 72.50 |
| 2024-10-15 | short | 11:00 | 20400.00 | 15:59 | 20343.50 | end of day 15:59 | 56.50 |
| 2024-10-14 | short | 11:00 | 20563.25 | 15:59 | 20621.75 | end of day 15:59 | −58.50 |
| 2024-10-10 | long | 11:00 | 20382.25 | 15:59 | 20429.50 | end of day 15:59 | 47.25 |
| 2024-10-09 | short | 13:00 | 20395.25 | 15:59 | 20458.25 | end of day 15:59 | −63.00 |
| 2024-10-08 | short | 14:00 | 20232.00 | 15:59 | 20300.00 | end of day 15:59 | −68.00 |
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Questions and answers
What happens if you buy NQ every time the Money Flow Index crosses back above 20?
From 2024-10-08 to 2026-10-07 on the NQ 15-minute chart, the Money Flow Index 20/80 strategy took 199 long trades, won 57.3% of them and made -2,306.75 points (-$46,135 on one NQ contract), before commission and slippage. From 2024-10-08 to 2026-10-07 on NQ, its long trades also made -26.75 points on 305 trades on the 5-minute chart, -1,525.00 points on 139 trades on the 1-hour chart and 784.75 points on 2 trades on the daily chart, before commission and slippage.
What happens if you short ES every time the Money Flow Index crosses back below 80?
From 2024-08-28 to 2026-08-27 on the ES 15-minute chart, the Money Flow Index 20/80 strategy took 232 short trades, won 46.1% of them and made 124.50 points ($6,225 on one ES contract), before commission and slippage. From 2024-08-28 to 2026-08-27 on ES, its short trades also made -82.75 points on 354 trades on the 5-minute chart, -121.75 points on 147 trades on the 1-hour chart and -1,676.50 points on 1 trade on the daily chart, before commission and slippage.
Does the Money Flow Index 20/80 strategy work on Nasdaq futures?
On NQ futures from 2024-10-08 to 2026-10-07, the Money Flow Index 20/80 strategy on the 15-minute chart took 413 trades, won 52.5% of them and finished -1,997.50 points (-$39,950 on one NQ contract), before commission and slippage.
What is the win rate of Money Flow Index (14) 20 / 80 on ES futures?
The Money Flow Index 20/80 strategy won 49.8% of its 440 trades on the ES 15-minute chart from 2024-08-28 to 2026-08-27, before commission and slippage. On ES from 2024-08-28 to 2026-08-27 it also won 52.4% of 677 trades on the 5-minute chart, 45.6% of 292 trades on the 1-hour chart and 0.0% of 1 trade on the daily chart, before commission and slippage.
Is the Money Flow Index 20/80 strategy better on the 5-minute, 15-minute, 1-hour or daily chart for NQ?
On NQ from 2024-10-08 to 2026-10-07, the Money Flow Index 20/80 strategy made -3,361.00 points on 637 trades on the 5-minute chart, -1,997.50 points on 413 trades on the 15-minute chart, -1,078.75 points on 270 trades on the 1-hour chart and -4,544.00 points on 5 trades on the daily chart, before commission and slippage.
Is it better to only buy or only sell Money Flow Index 20/80 signals on NQ?
On the NQ 15-minute chart from 2024-10-08 to 2026-10-07, the long trades made -2,306.75 points on 199 trades (57.3% won) and the short trades made 309.25 points on 214 trades (48.1% won), before commission and slippage.
How many trades does the Money Flow Index 20/80 strategy take on NQ in two years?
The Money Flow Index 20/80 strategy took 413 trades on the NQ 15-minute chart from 2024-10-08 to 2026-10-07, before commission and slippage. On NQ from 2024-10-08 to 2026-10-07 it also took 637 on the 5-minute chart, 270 on the 1-hour chart and 5 on the daily chart, before commission and slippage.
What is the max drawdown of the Money Flow Index 20/80 strategy on NQ?
The Money Flow Index 20/80 strategy had a max drawdown of 4,212.00 points ($84,240 on one NQ contract) on the NQ 15-minute chart from 2024-10-08 to 2026-10-07, before commission and slippage. On NQ from 2024-10-08 to 2026-10-07 its max drawdown was also 5,942.50 points on the 5-minute chart, 2,168.25 points on the 1-hour chart and 5,729.25 points on the daily chart, before commission and slippage.
How does the Money Flow Index 20/80 strategy do on ES compared with NQ?
On the ES 15-minute chart from 2024-08-28 to 2026-08-27, the Money Flow Index 20/80 strategy took 440 trades, won 49.8% of them and made 327.75 points ($16,388 on one ES contract), before commission and slippage. On the NQ 15-minute chart from 2024-10-08 to 2026-10-07, the Money Flow Index 20/80 strategy took 413 trades, won 52.5% of them and made -1,997.50 points (-$39,950 on one NQ contract), before commission and slippage.
How these were run
- Gross: no commission and no slippage.
- The last 2 years of each market, from the first to the last session of its window.
- A signal on a closed bar fills at the next bar’s open.
- A stop and a target touched in the same minute count as the stop.
- Intraday positions are flat at 15:59 ET.
- Textbook TradingView default settings for every indicator; nothing is tuned.
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