MovAvgEnvelope

Description

The Moving Average Envelope study calculates a moving average of specified type and length and plots it shifted up and down by a specified percentage. Upper and lower bands can be used as overbought and oversold levels respectively.

Input Parameters

Parameter Description

displace

The horizontal displacement of the moving average, in bars. Positive values signify a backward displacement.

length

The number of bars used to calculate the moving average.

pct above

The percentage of the moving average value for upward shift.

pct below

The percentage of the moving average value for downward shift.

price h

The price used in calculation of the higher moving average.

price l

The price used in calculation of the lower moving average.

average type

The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull.

Plots

Plot Description
UpperBand

The Upper Band plot; moving average of the specified type shifted up by the specified percentage.

LowerBand

The Lower Band plot; moving average of the specified type shifted down by the specified percentage.

Example*

*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.

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