Quite an interesting alternative to Bollinger Bands. The indicator has been developed to solve the problem of delays, which often appear in trading techniques that use averages. Normal averaging gives you information related to the events on a half of the average time period in the past.
The indicator uses an algorithm similar to that used in the STD channel (smoothing of a straight line at a fixed number of periods), and returns the last point, and 2 standard deviation channels with the user defined width.
File GRFLeadingEdgeMov.mq5 is an MA prepared using this algorithm of the geometric averaging without channels. This indicator was first implemented in MQL4 and published in Code Base at mql4.com on 16.05.2008.
MT5 Indicator – Download Instructions
GRFLeadingEdge is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
GRFLeadingEdge provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install GRFLeadingEdge.mq5?
- Download GRFLeadingEdge.mq5
- Copy GRFLeadingEdge.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on GRFLeadingEdge.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator GRFLeadingEdge.mq5 is available on your Chart
How to remove GRFLeadingEdge.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: