GRFLLeadingEdge - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
A very interesting alternative to Bollinger Bands. This indicator was developed to solve the latency problem that often occurs in trading techniques using averages. A normal average gives you information related to events over the past half of the average period.
The indicator uses an algorithm similar to that used in the STD channel (smoothing a straight line with a fixed number of periods) and returns the last point along with a 2 standard deviation channel with a user-defined width.
The file GRFLLeadingEdgeMov.mq5 is a MA prepared using this channelless geometric mean algorithm. The indicator was first implemented in MQL4 and published in the code base of mql4.com on May 16, 2008.
Figure 1. GRFLeadingEdge indicator
Attachment download
📎 grfleadingedgemov.mq5 (6.45 KB)
📎 grfleadingedge.mq5 (9.88 KB)
Source: MQL5 #1726
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