A Rounded Envelopes Indicator with Cloud and Price Labels

Summary

This brief description presents an Envelopes indicator that fills the space between its channel lines as a cloud. It can display the latest channel values as price labels and round channel levels to a user-selected number of digits. The digit setting is an input, allowing the displayed precision to be adjusted for the instrument or chart context.

The document identifies a dependency on a smoothing-algorithms library for MetaTrader 5 and points to a separate explanation of the library's averaging methods. It does not specify how the envelope boundaries are calculated, which price series or averaging period is used, or whether the channel is intended to generate trading signals. No performance evidence or testing procedure is included, so the text supports understanding of the indicator's display features, not a conclusion about its trading value.

Key ideas

• The indicator displays an Envelopes channel with a filled cloud between its lines.
• Latest channel levels can appear as price labels.
• A configurable digit input controls rounding precision for channel values.
• The implementation depends on a separate smoothing-algorithms library.
• The description provides no signal rules or evidence of trading performance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.