This indicator draws an ATR envelope surrounding price action and assists you in setting proper stoploss and take profit levels.

The envelope can be drawn using median price if desired, resulting in a narrower envelope.

Input parameters:
CalculateOnBarClose decides if current unclosed bar is ignored
UseMedianPrice decides if the median price is used to draw the envelope, instead of highs and lows.

The indicator shows the yesterday market close european market or NYSE close price. Yesterday european close or NYse close price like 8.00 am futures opend,,9.00 am europan floor markets open 17.30 europan close and 22.00 pm futures like germany index futuredax close.

Fibo Moving Average. Input parameters:

nAppliedPrice = 0;// PRICE_CLOSE=0; PRICE_OPEN=1; PRICE_HIGH=2; PRICE_LOW=3; PRICE_MEDIAN=4; PRICE_TYPICAL=5; PRICE_WEIGHTED=6;

maMethod = 0;// MODE_SMA=0; MODE_EMA=1; MODE_SMMA=2; MODE_LWMA=3;

TimeFrame from M1 to H4

Indicator will automatically show BB from next three TimeFrames

StepMA_v7 indicator.

iMA Fibs indicator.

Emilio Reale is a friend of mine and asked me to post the code, he is an experienced traded that calculate this bands in metastock, I converted his code to MetaTrader 4.

The idea behind this band was originally for the calculation of the correct level of the stop loss in a breakout strategy, next we discover to important things about: we can use the bands for trail correcly the stop loss and discover particulare squeeze of the volatility: when the bands are squeeze, we have high volatility when the bands, instead are opened we must expect a slow volatility.

This bands also privide signals as shown in the picture we can use pivots of the bands for entry and the opposite band for stoploss and trailing according the bands movements.

Image:
this is a sample of the bands... super bands !

Parameters:

According the market we use we must setup the parameters to adjust
period normally is 13 or 20
mul is the multiplier for the type of market for the forex I use 1.5 for OIL or GOLD it's recommended 1.7 or higher
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This script is useful to traders, for whom it is important to know the average price movement over a certain number of days separately for each hour.
Number of days given by the variable d (int d = 390;). The script is designed for TF = 1 hour.