Average Smoothed ATR Trend Envelope - MetaTrader 5 Script | Forex Indicator Download - 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 smoothed ATR instead of calculating price changes and adds price smoothing before using it in the calculation. Smoothing can be accomplished using one of 4 average types:
Attachment download
📎 smooth_atr_trend_envelopes_of_averages.mq5 (11.12 KB)
Source: MQL5 #21961
Average Smoothed ATR Trend Envelope - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Average Smoothed ATR Trend Envelope - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. 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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