Trend envelopes – parabolic weighted MA – indicator MetaTrader 5
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Trend Envelopes with an option to choose smoothed/filtered price in calculation instead of using “raw” prices.
The usage of filtered prices lessens the number of signals and, depending on your trading style, can be used to filter out undesired signals. To have unfiltered/non-smoothing values, simply set the the smoothing period to less than or equal to 1 and then, regardless of the smoothing type, there will be no smoothing/filtering. The filter for prices used in this version is the parabolic weighted moving average (description of it you can see here: Parabolic Weighted Moving Average ) which is, due to its speed, suitable for filtering the prices
