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Advanced_Fractal_Envelopes - indicator for MetaTrader 5

Scriptor
8839
(16)

Indicator Advanced Fractal Envelopes builds two envelopes on the mean prices of the pre-defined number of upper and lower fractals and the central line.

It has three adjustable parameters:

  • Average - number of fractals to build a moving average on their prices
  • Show central line - show the central line
  • Show fractals - show the fractals

Calculations:

Top     = AvgFractUp
Bottom  = AvgFractDn
Central = (AvgFractUp + AvgFractDn) / 2.0

where:

AvgFractUp = SMA(SumAvgUp, Average)
AvgFractDn = SMA(SumAvgDn, Average)

SumAvgUp - sum of the prices of upper fractals within the Average number
SumAvgDn - sum of the prices of lower fractals within the Average number

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/23425