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Published:

2018.09.27 15:32

DHLPBO.mq5 (9.4 KB) view

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The indicator DHLPBO (Dynamic High/Low Percentage Band Overlay). Unlike DHLBO, which displays two bands calculated based on the Highs/Lows of the range, this indicator constantly narrows the channel width by a certain percentage throughout the whole range.

It has two input parameters:

Period;
Expansion.

Calculations:

Up band = Max-(Max-Min) * (MaxIndex) * Expansion/100.0
Dn band = Min+(Max-Min) * (MinIndex) * Expansion/100.0

where:

Min, Max - the lowest and the highest prices in the Period range;
MinIndex, MaxIndex - the minimum and maximum value indexes, shifted by a step of 1.

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21715

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DHLPBO - indicator for MetaTrader 5