This is a modified Bollinger Bands® displaying the upper and lower borders of the price deviation from МА calculated considering the average volatility of the symbol according to ATR indicator. The internal MintCream-colored indicator channel stands for Bollinger Bands, while the pale light green and pale pink borders are formed by ATR by deviation from the channel.
//+----------------------------------------------+
//| INDICATOR INPUTS |
//+----------------------------------------------+
input uint ATR_Period=14; //ATR period
input double ATR_Ratio=2.0; //ATR ratio
input Smooth_Method XMA_Method=MODE_SMA_; //averaging method
input uint XLength=100; //depth of averaging
input int XPhase=15; //first averaging parameter,
//---- for JJMA within the range of -100 ... +100 it influences the quality of the transition process;
//---- For VIDIA it is a CMO period, for AMA it is a slow average period
input double BandsDeviation=2.0; //deviation
input Applied_price_ IPC=PRICE_CLOSE_;//price constant
input int Shift=0; // horizontal indicator shift in bars
input int PriceShift=0; // vertical shift of the indicator in points
//---- price label colors
input color Upper_color2=clrLime;
input color Upper_color1=clrMediumSeaGreen;
input color Middle_color=clrMediumPurple;
input color Lower_color1=clrRed;
input color Lower_color2=clrMagenta;
//+----------------------------------------------+
//| INDICATOR INPUTS |
//+----------------------------------------------+
input uint ATR_Period=14; //ATR period
input double ATR_Ratio=2.0; //ATR ratio
input Smooth_Method XMA_Method=MODE_SMA_; //averaging method
input uint XLength=100; //depth of averaging
input int XPhase=15; //first averaging parameter,
//---- for JJMA within the range of -100 ... +100 it influences the quality of the transition process;
//---- For VIDIA it is a CMO period, for AMA it is a slow average period
input double BandsDeviation=2.0; //deviation
input Applied_price_ IPC=PRICE_CLOSE_;//price constant
input int Shift=0; // horizontal indicator shift in bars
input int PriceShift=0; // vertical shift of the indicator in points
//---- price label colors
input color Upper_color2=clrLime;
input color Upper_color1=clrMediumSeaGreen;
input color Middle_color=clrMediumPurple;
input color Lower_color1=clrRed;
input color Lower_color2=clrMagenta;
//+----------------------------------------------+
The indicator uses the classes of SmoothAlgorithms.mqh library (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Fig.1. XMA_BBxATR_Cloud indicator
