STD Trend Envelopes – indicator MetaTrader 5

Trend Envelopes indicator is calculated based on a % of price change. That % is then used to determine if there is a new trend or trend remains the same.

This version is using Standard Deviation for the price change calculation instead, which makes it more self adjusting to the current timeframe and symbol market conditions.

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Alternative:   Bollinger_Squeeze_v9_HTF - indicator MetaTrader 5