Indicator Advanced Fractal Envelopes builds two envelopes on the mean prices of the pre-defined number of upper and lower fractals and the central line.
It has three adjustable parameters:
- Average – number of fractals to build a moving average on their prices
- Show central line – show the central line
- Show fractals – show the fractals
Calculations:
Top    = AvgFractUp
Bottom = AvgFractDn
Central = (AvgFractUp + AvgFractDn) / 2.0
where:
AvgFractUp = SMA(SumAvgUp, Average)
AvgFractDn = SMA(SumAvgDn, Average)
SumAvgUp – sum of the prices of upper fractals within the Average number
SumAvgDn – sum of the prices of lower fractals within the Average number
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