Kijun-sen + Envelope

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Kijun-sen + Envelope

This indicator draws: 1 Kijun Sen + 1 Envelope + 3 Price Labels.

The Kijun Sen, Envelope and Labels can be hidden as required.

Envelopes can be used to identify:

Price ranging;
Overbought price levels;
Oversold price levels;
Take Profit levels;
Stop Loss Levels.
The Kijun Sen traditional default period of 26 is optimized for the daily timeframe. Lower timeframes require appropriate parameter adjustments.

For lower timeframes the Kijun Sen period can to be increased to 34, 52, 78 etc., and Envelope deviation lowered.

Also available for MetaTrader 5:

Kijun Sen + 1 Envelope
Kijun Sen + 3 Envelopes.
Kijun Period = 26, Envelope Deviation = 4000, Timeframe = Daily

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