The indicator plots a price channel using the Hodrick-Prescott Filter.
The first step is to calculate the smoothed values of Close prices. After that it smoothed again with higher smoothing period. As a result we will have HP and HPSlow. On the next step we calculate the standard deviation HP relative to HPSlow and construct the channel.
The indicator prints the ratio of a full channel width to HPSlow, presented in percents. This text can be easily moved at any place on the chart - just drag it with double mouse click and move.
We have used the HPF (Hodrick-Prescott Filter) function from http://www.mql4.com/ for smoothing.
Indicator input parameters:
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/191