True_Range_Bands - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources

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An alternative to the Bollinger Bands® indicator using Average True Range.

The indicator uses SmoothAlgorithms.mqh library class (copy it to \MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

The indicator was originally written in MQL4 and first published in the code base on June 24, 2010.

Figure 1. True_Range_Bands indicator

Attachment download

📎 smoothalgorithms.mqh (130.19 KB)

📎 true_range_bands.mq5 (8.74 KB)

Source: MQL5 #15089