• The Envelope indicator is formed by two moving averages. One moves up, and the other moves down.
• It determines the upper and lower margins of the price range.
• It is necessary to install the Envelope indicator, which is available in MT4 by default

• MA_Period: The averaging period for calculating the main line.
• MA_Shift: the shift of the moving average. The shift of the indicator line depends on the timeframe of the chart
• MA_Method: There are four moving average methods:
• MODE_SMA: simple moving average (value=0).
• MODE_EMA: exponential moving average (value=1).
• MODE_SMMA: smoothed averaging (value=2).
• MODE_LWMA: linearly weighted averaging (value=3).
• appliced_price: Seven price types are applied.
• PRICE_CLOSE (value=0).
• PRICE_OPEN (value=1).
• PRICE_HIGH (value=2).
• PRICE_LOW (value=3).
• PRICE_MEDIAN (value=4).
• PRICE_TYPICAL (value=5).
• PRICEWEIGHTED (value=6).
• Deviation: deviation from the main line as a percentage. You can increase or decrease the distance between the top and bottom lines of the envelope.

• MODE_SMA: simple moving average (value=0).
• MODE_EMA: exponential moving average (value=1).
• MODE_SMMA: smoothed averaging (value=2).
• MODE_LWMA: linearly weighted averaging (value=3).

[spoiler title=”Read More…”]

• PRICE_CLOSE (value=0).
• PRICE_OPEN (value=1).
• PRICE_HIGH (value=2).
• PRICE_LOW (value=3).
• PRICE_MEDIAN (value=4).
• PRICE_TYPICAL (value=5).
• PRICEWEIGHTED (value=6).

It is necessary to specify the same deviation for this indicator (by default) and the Envelope indicators

[/spoiler]