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- Published:
- 2016.11.03 14:54
- Updated:
- 2020.09.02 16:23
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Envelope or channel lines are set parallel to the moving average (parallel to the slow MA if you use two MAs). The two channel lines must contain approximately 95% of all prices for the past two or three months on a daily chart, with only the extremes protruding outside.
Channel lines provide attractive profit targets – sell longs near the upper line and cover shorts near the lower line.
The auto envelope automatically sizes channels by calculating a standard deviation for the last n bars. It is designed to change value at most once a week (once a month on a weekly chart), making it suitable even for intra-day data (use the ‘Fixed channel size’ parameter to switch from one mode to the other).
![Normalized MACD](https://c.mql5.com/i/code/indicator.png)
This version is an attempt to normalize MACD in known bounds
![Normalized Velocity](https://c.mql5.com/i/code/indicator.png)
The normalizing velocity, using by default a gradient coloring.
![Aroon Indicator in new form](https://c.mql5.com/i/code/indicator.png)
The Aroon indicator in the new visualization.
![Aroon on chart](https://c.mql5.com/i/code/indicator.png)
The version of Aroon indicator that displays colored line, bars or candles on the mains chart.