Two channels drawn based on Moving Averages of High and Low of price series.
Originally this indicator has been written in MQL4 and was first published in the Code Base at mql4.com on 01.11.2007.
Figure 1. Indicator EMABands_v1
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/2047