Elder AutoEnvelope
Envelopes (Envelopes) or channel lines are similar to moving averages (or
slow MA with two MA). Inside the channel lines daily
schedule is approximately 95% of prices in the last two or three months for
channel line out only extreme value prices. channel lines are target prices - sell better about the top line, and to buy - near the lower channel line.
AutoEnvelope indicator - the original tool that automatically determines the width of the channel by calculating the standard deviation of prices over the last 100 bars. It allows you to work with a fixed-size channel as the channel, the size of which is changed once a week (or once a month on the weekly chart), so it can be used for trade within the day. operation mode is set to "Fixed channel size".
In addition to the channels are also built moving average EMA, which simplifies the channel. If the map moving average is not required, its display can be turned off by setting the parameters of the color of the indicator "None" for the second line.
Options:- EMA_Length (22) - for calculating the number of bars EMA - channel center line.
- Factor (27)
- The number of standard deviations (in scores) for calculating channel. According to statistics, 2.7 deviation enough, but it is only for the normal distribution of prices, which is not always present in the markets. We have found that the value of 27 works for the majority of shares (daily bars), but you might want to use other values in accordance with your trading style. - Fixed_Channel_Size (True) - channel size may be fixed or dynamic.
Version 2.0:
- The parameter "Fixed channel size" is replaced by "Channel_Mode";
- The selected mode is displayed in the name AutoEnvelope indicator.
Parameter "Channel_Mode" can be:
- Fixed channel size - used right width of the channel (corresponds to true parameter "Fixed channel size" version 1.0).
- Weekly sized channel - calculation of channel width is done once a week (corresponds to false parameter "Fixed channel size" version 1.0).
- Dynamic channel size - dynamic channel width - is calculated at each bar.
Related posts
Bulls and Bears indicator Bulls and Bears Indicator An indicator showing who is dominant at the moment on the market : buyers (Bulls-bulls) or sellers...
ChannelTrend MT5 Indicator ChannelTrend - is a trading system that allows you to analyze the market in terms of several aspects of technical analysis....
VolumeDeltaMT5 This indicator allows you to analyze the delta tick volume. It calculates each bar tick volume of purchases and sales (separately), as...
No comments:
Post a Comment