Projection_Bands – indicator MetaTrader 5
The indicator was first proposed by Mel Widner (“Technical Analysis of Stocks & Commodities” magazine, July 1995). Along with similar indicators, such as price channels, envelopes or Bollinger bands, it allows you to define the borders of price ranges. The indicator has one customizable parameter: Period – calculation period. Calculation: UpBand = Maximum(High, PrevHigh*SlopeHigh) DnBand … Read more