JFatlCandle_Chl – indicator MetaTrader 5

JFatlCandle indicator with two colored channels based on standard deviations from High and Low of the indicator candles. The indicator brightness is decreased for ease of the candle chart analysis. For a normal display of the indicator, check the “Chart on foreground” checkbox in the chart properties.

//+----------------------------------------------+
//|  INDICATOR INPUT PARAMETERS                  |
//+----------------------------------------------+
input uint JLength=5;                                  // depth of the JMA smoothing                   
input int JPhase=100;                                  // JMA smoothing parameter,
//---- that changes within the range -100 ... +100,
//---- impacts the transitional process quality;
input uint Gap=10;                                     // unconsidered gap in points
input uint BBLength=10;                                // Bollinger period                                                   
input double BandsDeviation=1.0;                       // deviation

The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>MQL5Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.

Fig. 1. JFatlCandle_Chl indicator