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Published:

27 September 2018, 16:15

MAE.mq5 (10.09 KB) view

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The Moving Average Envelopes Percentage indicator shows the price as a percentage of the Envelopes channel.

There are five inputs:

Period - calculation period;
Deviation;
Applied price;
Overbought - the overbought level is set to 100% of the Envelopes channel by default;
Oversold - the oversold level is set to 0% (bottom edge) of the Envelopes channel by default.

Calculations:

MAE = 100 * (Applied price - DN) / (UP - DN)

where:

UP = MA * (1+Deviation / 100.0)
DN = MA * (1-Deviation / 100.0)
MA - MA(Applied price, Period)

Fig. 1. MAE

Fig. 2. MAE + Envelopes

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21648

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