XEnvelopes3 - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

Three envelope channels, based on a moving average with different bias values, plotted as clouds. The first channel is painted light gray, the top of the second channel (which extends beyond the first channel) is painted light green, and the bottom of the second channel (which also extends beyond the first channel) is painted light pink. The top of the third aisle, which extends beyond the second aisle, is painted light blue, while the bottom of the third aisle, which also extends beyond the second aisle, is painted bright pink.

The indicator uses SmoothAlgorithms.mqh library class (copy it to \MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

Figure 1. XEnvelopes3 indicator

Attachment download

📎 smoothalgorithms.mqh (130.19 KB)

📎 xenvelopes3.mq5 (11.18 KB)

Source: MQL5 #14779