Explore the latest free tools from the MQL5 community. Here's a new indicator, expert advisor, or script for MetaTrader.
Real author:
David W. Thomas
Another variation of Bollinger Bands. In this indicator prices High and Low are used instead Close for calculating Standard Deviation.
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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".
Originally this indicator has been written in MQL4 and was first published in the Code Base on 27.09.2007.
Figure 1. The BB-HL indicator
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