Envelopes Indicator

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Envelopes are technical indicators that are typically plotted over a price chart with upper and lower bounds. The most common example of an envelope is a moving average envelope, which is created using two moving averages that define upper and lower price range levels.

Envelopes are commonly used to help traders and investors identify extreme overbought and oversold conditions as well as trading ranges.

https://www.investopedia.com/terms/e/envelope.asp

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The indicator comes with metatrader in "Examples". Use that one, anyway, if you need it, you can use this one.

Envelopes.mq5
Envelopes.ex5


Config:

Test_v2.55.6.set