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The indicator plots a price channel using the Hodrick-Prescott Filter.
The first step is to calculate the smoothed values of Close prices. After that it smoothed again with higher smoothing period. As a result we will have HP and HPSlow. On the next step we calculate the standard deviation HP relative to HPSlow and construct the channel.
The indicator prints the ratio of a full channel width to HPSlow[0], presented in percents. This text can be easily moved at any place on the chart - just drag it with double mouse click and move.
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We have used the HPF (Hodrick-Prescott Filter) function from https://www.mql4.com/ for smoothing.
Indicator input parameters:
- HP Fast Period – smoothing period of the HP;
- HP Slow Period - smoothing period of the HPSlow.
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