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You liked the script? Try it in the MetaTrader 5 terminal

\MQL5\Include\

smoothalgorithms.mqh (130.19 KB) view

true_range_bands.mq5 (8.74 KB) view

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Real author:

basisforex@gmail.com

An alternative to the Bollinger Bands® indicator using Average True Range.

The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

The indicator has originally been written in MQL4 and was first published in the Code Base on 24.06.2010.

Fig.1. The True_Range_Bands indicator

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/15089

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True_Range_Bands - indicator for MetaTrader 5