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Views:: 4781
Rating:: (15)
Published:: 2018.10.25 18:35

Auto_Envelope.mq5 (18.64 KB) view

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Auto Envelope is an envelope indicator that automatically changes the channel size calculating the standard deviation for the last 100 bars. It is designed to change the value no more than once a week, which makes it suitable even for intraday data.

It has four inputs:

MA period - moving average calculation period
MA method - moving average calculation method
Deviation factor - standard deviation ratio
Deviation period - standard deviation calculation period

Calculation:

Central = MA
Top = Central + Channel / 2.0
Bottom = Central - Channel / 2.0

where:

Channel = StdDev * Deviation factor * Central / 10.0
StdDev - StdDev(Raw, Deviation period)
Raw = 2.0 * Max(Abs(High-MA), Abs(Low-MA)) / MA
MA - MA(Close, MA period, MA method)

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/22184

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Auto_Envelope - indicator for MetaTrader 5