Noltes Envelope MT5
Nolte's Envelope is an envelope with a dynamic deviation that adjusts according to the trend strength. It helps to filter between ranging and trending markets. While the markets are trending, the upper and lower envelope levels combine to create a single median moving average (HL/2). As the trend begins to weaken, the upper envelope level begins to expand upwards and the lower envelope level begins to expand lower.
It also has alerts for price crossing above/below the upper/lower envelope levels. It will also give an alert when the envelope upper and lower levels expand or contract.
Some of the characteristics include:
- Quick exit from losing trades.
- Follows the trend for greater profits.
- Reduces false signals in ranging markets.
The following are inputs available in the application:
- Deviation – set the maximum deviation.
- STP – adjust the sensitivity to the trend.
- Power – change the envelopes rate of expansion.
- MA Periods – set the period for the moving average.
- MA Method – set the method for the moving average (0=simple, 1=exponential, 2=smoothed, 3=weighted).
- Shift – shift indicator forward.
Alert parameters include:
- Alert On - turns the alert on or off.
- Alert Email - turns the email on or off.
- Alert Sound File - selects the sound file to play.
- Buy Message - input the message you want to use for the buy signal.
- Sell Message - input the message you want to use for the sell signal.
- Email Subject - input the email subject you want to receive.