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

The author believes that in most cases, prices tend to return after leaving the corridor. Then head to the center line.

Unlike the author's calculations, the upper and lower lines of the corridor are calculated using standard deviations.

The indicator has three input parameters:

 Center = LinearReg((opening price+highest price+lowest price+(2*closing price))/5)
Top Band = Center + Multiplier * Deviation Bottom Band = Center - Multiplier * Deviation
Deviation = StdDev(closing price, standard deviation period, SMA)
Top = Previous page Top Center = Previous Center Bottom = Previous Bottom
 Attachment download
 📎 mogalef.mq5 (12.11 KB)
 Source: MQL5 #22089
Mogalef - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
 Mogalef - 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.