Indicator EMA HLC Envelope. The indicator displays an exponential moving average calculated at the Close price with two envelopes — the top and the bottom ones calculated as EMA at the High and Low prices, respectively, and signal indicators showing the envelopes breakthrough by the price.
The indicator has one adjustable parameter:
Period – calculation period
If the candle Close price breaks through the upper envelope, the blue signal pointer is placed on the High price of the candle.
If the candle Close price breaks through the lower envelope, the red signal pointer is placed on the Low price of the candle.
