Prism Multi Deviation Bands for MT5

PRISM Multi-Deviation Bands for MT5 is a chart-analysis indicator for MetaTrader 5 that displays three exact rolling high/low price ranges directly on the active chart.

The indicator is designed for traders who want a clear visual reference for recent price structure without adding multiple lagging studies or cluttering the chart. PRISM calculates the highest high and lowest low across three related lookback windows and draws those boundaries as visible chart levels.

The default configuration uses a 16-bar base range:

• Dev1: 16-bar high and low

• Dev10: 160-bar high and low

• Dev25: 400-bar high and low

Together, these three range layers provide an immediate, medium, and broad view of current price location. Dev1 can be used to observe recent local structure. Dev10 provides a wider context for the active chart. Dev25 provides a broad historical range map that can help users see larger price terrain and nearby reference boundaries.

PRISM also includes an on-chart information panel. The panel displays the current high and low value for Dev1, Dev10, and Dev25, along with a simple status showing whether the most recently completed price bar is inside or outside the Dev1 range.

The indicator uses the active chart symbol and active chart timeframe. It can be applied to Forex, metals, indices, cryptocurrencies, stocks, CFDs, or any other symbol made available by the user’s MetaTrader 5 broker, provided adequate historical data is loaded.

PRISM is designed around completed-bar calculations. With the recommended default setting enabled, range values remain stable while the current candle is forming and refresh when a new chart bar begins. This produces a consistent reference map based on closed bars and reduces unnecessary repeated chart updates during active market ticks.

Main features

• Exact rolling high/low range calculations

• Three default range tiers: 16, 160, and 400 bars

• Six visible chart levels: high and low for each range tier

• On-chart HUD with current range values

• Optional display controls for Dev1, Dev10, and Dev25

• Customizable line colors and widths

• Works with the active symbol and timeframe

• Completed-bar mode for stable chart references

• Lightweight chart update design

Inputs

InpBaseBars sets the base length used to calculate all three tiers. The default value is 16.

InpUseClosedBarsOnly uses completed candles for the calculation. The recommended setting is true .

Individual display options allow users to show or hide Dev1, Dev10, and Dev25. Colors and line widths can be customized to fit an existing chart template.

Important information

PRISM Multi-Deviation Bands is an analytical chart tool. It does not open, close, modify, or manage trades. It does not provide financial advice, investment recommendations, guaranteed outcomes, or automated trading signals.

Users remain fully responsible for all market analysis, trade selection, risk management, broker conditions, and trading decisions. Past market behavior does not guarantee future results. Trading leveraged products and other financial instruments involves substantial risk.