Envelopes Indicator for MetaTrader 4 Download - Free - TradingFinder]

The Envelopes Indicator is a technical analysis tool used in financial markets to identify support and resistance zones and detect trend reversals.

This indicator is formed by two lines with a fixed percentage deviation around amoving average. The blue and red lines help identify overbought and oversold levels.

Envelopes Indicator Specifications Table

Table provides an overview of the capabilities of the Envelopes indicator on the MetaTrader 4 platform:

Uptrend Conditions

The chart below shows the price of Gold (XAU/USD) on the 1-hour timeframe. A breakout or return to the blue line can provide Entry Signals for traders.

Downtrend Conditions

The image below shows the price chart of the EUR/USD pair on the 5-minute timeframe. The indicator provides Entry Signals when the price breaks or reverses to the red line.

Indicator Settings

The following image provides details on how to configure the settings of the Envelopes indicator in the MetaTrader 4 platform:

• Chart theme: Chart theme;
• MA period: Moving Average (MA) period to 14;
• MA shift: Moving Average (MA) shift to 0;
• MA method: Moving Average (MA) method;
• Applied price: Applied price;
• Deviation: Deviation.

Conclusion

The Envelopes Indicator operates as a multi timeframe tool, identifying trend reversal points based on breakouts or reversals within its range.

It provides suitableEntry Signals in both uptrends and downtrends.