OPEN-SOURCE SCRIPT
Envelop - Multi Type
Updated
Envelop - Multi Type displays an upper envelope above a basis line and a lower envelope below the basis line. The basis line is a type of moving average, The envelopes are set a percentage away from the basis line.
A. Basis Line's Type
1. Gaussian Filter script by Alex Orekhov (everget)
2. SMA
3. EMA
4. TEMA
5. WMA
6. VWMA
7. DONCHIAN
8. Hull MA
9. ALMA
B. Default Percent of Envelop
1. Resolution (Time frame) <= 5: percent = 0.382
2. Resolution (Time frame) <= 15: percent = 0.5
3. Resolution (Time frame) <= 30: percent = 0.618
4. Resolution (Time frame) <= 60 (1H): percent = 0.786
5. Resolution (Time frame) <= 240 (4H): percent = 1.0
6. Resolution (Time frame) <= 1440 (1D): percent = 1.618
7. Resolution (Time frame) >1D: percent = 2.618
C. Custom Percent of Envelop
Default Percent of Envelop auto disable when Custom Percent of Envelop > 0 and the envelopes are set by user defined percentage.
A. Basis Line's Type
1. Gaussian Filter script by Alex Orekhov (everget)
2. SMA
3. EMA
4. TEMA
5. WMA
6. VWMA
7. DONCHIAN
8. Hull MA
9. ALMA
B. Default Percent of Envelop
1. Resolution (Time frame) <= 5: percent = 0.382
2. Resolution (Time frame) <= 15: percent = 0.5
3. Resolution (Time frame) <= 30: percent = 0.618
4. Resolution (Time frame) <= 60 (1H): percent = 0.786
5. Resolution (Time frame) <= 240 (4H): percent = 1.0
6. Resolution (Time frame) <= 1440 (1D): percent = 1.618
7. Resolution (Time frame) >1D: percent = 2.618
C. Custom Percent of Envelop
Default Percent of Envelop auto disable when Custom Percent of Envelop > 0 and the envelopes are set by user defined percentage.
Release Notes
Update row67Release Notes
Update:1. fill background
2. Add Standard Deviation Envelop & ATR Envelop
3. By default only Percent Envelop is open. Check/uncheck types of envelop to active them.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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