EnvelopesATR_Cloud - MetaTrader 5 Script - MT4/MT5 Resources

Real author: Thor

This is a modified envelope indicator that measures price deviation. It shows the upper and lower boundaries of the МА price deviation calculated based on the ATR indicator taking into account the average volatility of the symbol. The inner lilac indicator channel represents the envelope, while the lilac and pale pink borders are formed by the ATR deviation channel.

The indicator uses classes from the SmoothAlgorithms.mqh library (copy it to <terminal data folder> \MQL5\include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

The original indicator was developed in MQL4 language and published in the code base on October 19, 2016.

Figure 1. EnvelopesATR_Cloud indicator

Attachment download

📎 EnvelopesATR_Cloud.mq5 (28.13 KB)

📎 SmoothAlgorithms.mqh (130.2 KB)

Source: MQL5 #16873