Two Envelopes channels, based on one moving average with different deviation values, drawn as a cloud. The first channel is painted in a pale gray color, the top of the second channel, extending beyond the first channel, is painted in a pale green color, and the bottom of the second channel, also extending beyond the first channel, is painted in a pale pink color.

The indicator uses SmoothAlgorithms.mqh library classes (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".

Figure 1. The XEnvelopes2 Indicator