Trend Envelope - Parabolic Weighted MA - histo - MetaTrader 5 Script - MT4/MT5 Resources
Trend Envelope has the option to choose smoothed/filtered prices in the calculation instead of using the "raw" prices.
Use filter price to reduce the number of signals and, depending on your trading style, can be used to filter out unwanted trading signals. To get unfiltered/non-smoothed values, just set the smoothing period less than or equal to 1, then, regardless of the smoothing type, there will be no smoothing/filtering. The filter used for prices in this version is Parabolic Weighted Moving Average (you can see its description here: Parabolic Weighted Moving Average ) which is suitable for filtering prices due to its fast speed
Additionally, this version is made as a histogram (thus showing mainly the trend part, making it more suitable for "signal systems")
Attachment download
📎 trend_envelopes_-_parabolic_weighted_ma_-_histo.mq5 (5.69 KB)
Source: MQL5 #21973
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