Description:
If you’re trading with MetaTrader 4, you might want to check out True Range Envelopes. This handy tool is built on the classic Envelopes indicator, but with a twist that makes it even more effective for modern traders.
Instead of using the standard "Deviation" parameter, True Range Envelopes taps into the data from the Average True Range (ATR) indicator. This allows for a more dynamic response to market movements. Plus, it utilizes the MaOnArray function for smoothing all the lines, giving you a clearer view of price action.
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