Average STD Trend Envelope - Multiple Timeframes - MetaTrader 5 Script - MT4/MT5 Resources
The Trend Envelope indicator is calculated based on the percentage change in price. Then % is used to determine whether there is a new trend or the trend remains unchanged.
This version uses standard deviation for price change calculations instead and adds price smoothing calculations before use. Smoothing types can be accomplished using one of 4 averages:
The timeframes supported in this version are all possible timeframes supported by MetaTrader 5, which has 3 "special" timeframes:
Attachment download
📎 std_trend_envelopes_of_averages_-_mtf.mq5 (30.05 KB)
Source: MQL5 #21997
Average STD Trend Envelope - Multiple Time Ranges - MetaTrader 5 Script Usage and Screening Suggestions
Average STD Trend Envelope - Multiple Timeframes - MetaTrader 5 Script is a resource related to Forex indicators. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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