The real author:

CoreWinTT

One more variation on the channels theme. The indicator draws channels inside of each the security zone is represented.

This indicator was first implemented in MQL4 and published in Code Base on 23.12.2009.

The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the 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 The SafeZoneV2 indicator