Price Peak Envelope
- Indicators
- Version: 1.10
Price Peak Envelope MT5 — Swing High/Low Envelope Indicator
Price Peak Envelope MT5 is a technical analysis tool that maps the market's swing structure directly onto the price chart. The indicator automatically connects confirmed swing highs into an upper envelope and confirmed swing lows into a lower envelope, giving you a clear, constantly updating picture of the price channel the market is currently trading within.
Swing Structure Visualization
Instead of a fixed-width channel, Price Peak Envelope MT5 builds its boundaries from the market's own actual turning points. As new swing highs and lows are confirmed, the envelope reshapes itself in real time, expanding, contracting, and tilting exactly the way price itself has been moving — no arbitrary bands, no guesswork.
Visual Signal System
The indicator plots two lines directly on the main chart:
- Dodger Blue: Upper Envelope (connects confirmed swing highs)
- Orange Red: Lower Envelope (connects confirmed swing lows)
Core Components
- Fractal Swing Detection: Confirms a swing high/low once it is the extreme point among a configurable number of bars on each side.
- Linear Segment Connection: Draws straight lines between successive confirmed pivots, so the envelope always reflects the true slope of the market structure.
- Trailing Edge Extension: Optionally projects the last segment's slope forward past the most recent pivot, so the envelope stays current instead of stopping short.
- Optional Smoothing: Applies a moving average to both envelope lines for a cleaner, less jagged read of the structure.
- Breakout Alerts: Fires a one-time-per-bar alert when a closed candle crosses above the upper envelope or below the lower envelope.
Technical Parameters
- Fractal Wing: Number of bars on each side required to confirm a swing high/low.
- Extend Last Segment: Toggle for projecting the envelope beyond the last confirmed pivot.
- Envelope Smoothing / Smoothing Period: Enable and configure moving-average smoothing of the envelope lines.
- Alert Settings: Enable popup alerts, sound alerts (with custom sound file), and push notifications on envelope breakouts.
- Compatibility: Designed for Forex, Indices, Commodities, and Crypto assets on all timeframes.
Key Features
- Main Chart Overlay: Plots directly on price, no separate sub-window needed.
- Objective Structure: Envelope boundaries come from actual swing points, not fixed distances or standard deviations.
- Analysis Efficiency: Instant visual read of the current trading range and its slope.
- Multi-timeframe Support: Suitable for spotting structure on any chart, from scalping to swing timeframes.
Links:
For technical questions or further information, please contact me via my MQL5 Profile.
