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

Satellite Candles is an indicator with two colored channels, based on the standard deviation of the highest and lowest prices of the indicator candle. To facilitate candlestick analysis, the indicator brightness is reduced. In order for the indicator to display properly, select the "Foreground Chart" checkbox in the chart properties.

 //+------------------------------------------------------------------------+
//| Indicator input parameters |
//+------------------------------------------------------------------------+
Input unit J length = 5 ; // JMA smoothing depth
Input integer J phase = 100 ; // JMA smoothing parameter,
//---- changes in the range of -100 ... +100,
//---- Affects the quality of the transition process;
Input unit gap = 10 ; // points gap not taken into account
Input unit BB length = 20 ; // Bollinger band period
Enter double the band deviation = 3.0 ; // deviation

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. JSatlCandle_Chl

Attachment download

📎 JSatlCandle_Chl.mq5 (22.94 KB)

📎 SmoothAlgorithms.mqh (130.2 KB)

Source: MQL5 #22225