Hurst_Bands - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
James M. Hurst Band Formation The percentage of bands around the median calculated using the Hurst equation. The outer bands (called ExtremeBands) imply extreme overbought/oversold conditions. The inner bands represent potential price return points. They also act as dynamic support/resistance levels.
The indicator has seven adjustable parameters:
Center = MA[Period/2-1] H extreme value = center * (1+extreme value/100) L extreme value=center*(1-extreme value/100) HOuter = center* (1+outer value/100) LOuter = center* (1-outer value/100) HInner = center* (1+inner value/100) LInner = center* (1-inner value/100)
MA = SMA(PRICE_MEDIAN, period)
Hurst bands often work with Hurst oscillators , specifically searching for divergences between frequency bands and oscillation lines.
Figure 1. Hearst Band
Figure 2. Hoechst Band and Hoechst Oscillator
Attachment download
📎 hurst_bands.mq5 (14.34 KB)
Source: MQL5 #22195
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