Negative Volume Index (NVI) indicator with the timeframe selection option available in the input parameters.
The indicator requires Negative_Volume_Index.mq5 indicator file. Place it in <terminal_data_folder>\MQL5\Indicators.
Fig. 1. The Negative_Volume_Index_HTF indicator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/12530
One more analog of Bollinger Bands and envelopes with a similar working procedure.Geo_InnerBar
The internal bar indicator showing locations of temporary price consolidation.