Float_Pivot_Digit – indicator MetaTrader 5

Nick A. Zhilin

An alternative to Bollinger Bands® with the color filling inside the channel, drawn as a cloud, with the display of the last values as price labels and the possibility to round the channel levels up to a required number of digits.

//+----------------------------------------------+
//|  INDICATOR INPUT PARAMETERS                  |
//+----------------------------------------------+
input string  SirName="Float_Pivot_Digit";          //The first part of the name of graphical objects
input int IPeriod=100;                              //Extremum search period
input ENUM_APPLIED_PRICE_ IPC=PRICE_MEDIAN_;        //Price constant
input int Shift=0;                                  //Horizontal indicator shift in bars
input uint Digit=2;                                 //Number of digits to round to
input bool ShowPrice=true;                          //Show price labels
input color Upper_color=clrTeal;                    //The color of the upper price label
input color Middle_color=clrBlue;                   //The color of the middle price label
input color Lower_color=clrMagenta;                 //The color of the lower price label

The number of digits to round is set in the input variable Digit:

Originally this indicator has been written in MQL4 and was first published in the Code Base on 08.02.2008.

Fig.1. The Float_Pivot_Digit indicator