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Indicators

Candle_Range_Envelop - indicator for MetaTrader 5

Scriptor | English Русский 中文 Español Deutsch 日本語

Views:
668
Rating:
votes: 7
Published:
2018.11.20 12:53

Candle Range Envelop indicator displays candle length, average length for a period and two envelopes forming minimum and maximum values channel as a color histogram.

It has eight adjustable parameters:

  • Range period - averaging range period
  • Signal period - signal (central) line period
  • Deviation period - deviation calculation period for calculating the channel
  • Deviation multiplier - channel width
  • Percent top envelope - upper envelope deviation percentage
  • Percent bottom envelope - lower envelope deviation percentage
  • Envelop method - envelope calculation method
    • Deviation - standard deviation
    • Percentage - percentage of the deviation set in the Percent top envelope and Percent bottom envelope parameters
  • Price method - candle length calculation method
    • High/Low - size of a candle with wicks
    • Open/Close - candle body size

Histogram columns corresponding to candles, the size of which is within the channel, are colored gray.
Histogram columns corresponding to candles, the size of which exceeds the upper channel envelope, are colored green.
Histogram columns corresponding to candles, the size of which is less than the lower channel envelope, are colored red.

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/22938

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