FineTuningMACandle_Chl - MetaTrader 5 Script - MT4/MT5 Resource

Fine-tuned MACandle indicator has two colored channels, based on the standard deviation of the highest and lowest prices of the indicator candles. In order for the indicator to display properly, select the "Foreground Chart" checkbox in the chart properties.

 //+------------------------------------------------------------------------+
//| Indicator input parameters |
//+------------------------------------------------------------------------+
Enter Units FTMA= 10 ; Enter Double Level 1 = 2 ; Enter Double Level 2 = 2 ; Enter Double Level 3 = 2 ; Enter Double Shift 1 = 1 ; Enter Double Shift2 = 1 ; Enter Double Shift3 = 1 ; Enter Integer Price Change = 0 ; // Vertical movement of the indicator in points.
Input unit gap = 10 ; //Point gap not considered
Input unit BB length = 10 ; // Bollinger band period
Enter double the band deviation = 1.0 ; // deviation

The indicator uses classes of the library SmoothAlgorithms.mqh (copied to \MQL5\Include folder). The article details the use of a class to calculate an average price series in the middle without using additional buffers .

Figure 1. FineTuningMACandle_Chl indicator

Attachment download

📎 FineTuningMACandle_Chl.mq5 (20.46 KB)

📎 SmoothAlgorithms.mqh (130.2 KB)

Source: MQL5 #22774