JMACandle_Chl - indicator for MetaTrader 5

JMACandle indicator with two colored channels based on standard deviations from High and Low of the indicator candles. For a normal display of the indicator, check the "Chart on foreground" checkbox in the chart properties.

//+----------------------------------------------+
//|  INDICATOR INPUTS                            |
//+----------------------------------------------+
input Smooth_Method MA_Method1=MODE_JJMA;              //smoothing method
input int Length1=12;                                  //smoothing depth                    
input int Phase1=15;                                   //smoothing parameter,
//---- for JJMA, changing within -100 ... +100, affects the transient process quality;
//---- For VIDIA this is CMO period, for AMA this is a slow average
input uint Gap=10;                                     //not considered gap in points
input uint BBLength=10;                                // Bollinger period                                                   
input double BandsDeviation=1.0;                       // deviation

The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

Fig. 1. JMACandle_Chl indicator