Dynamic Gaussian Channel - indicator for MetaTrader 5

Brief description of "Dynamic Gaussian Channel" indicator

Purpose

The indicator builds dynamic support and resistance levels based on smoothed price data using Gaussian filter.

Key features

• Three lines: resistance (DRAW_LINE), median (DRAW_LINE), support (DRAW_LINE).

• Algorithm:

  • Applies Gaussian smoothing to high/low prices

  • Finds extrema for the specified period

  • Builds a channel based on the smoothed values

• Customisable parameters:

  • Calculation period (InpPeriod)

  • Line colours and styles for each level

Working principle

1. Initialisation: calculates Gaussian filter weights for smoothing

2. Smoothing: applies the filter to high and low prices

3. Definition of levels:

   • Resistance = maximum of smoothed high for the period

   • Support = minimum of smoothed low for the period

   • Median = average between support and resistance

Implementation Features

• Uses indicator buffers for three levels

• Gaussian filter with 5 bars window

• Optimised recalculation of new bars only

• Supports various timeframes

The indicator is useful for identifying dynamic support/resistance levels and defining price channels in the market.