Channel trading indicator GRFLeadingEdge Is a rather interesting alternative to Bollinger Bands, made for the MetaTrader 5 trading terminal.
The GRFLeadingEdge indicator was developed to solve the problem of lags that are so often inherent in averaging trading methods. Conventional averaging gives information related to events for 1/2 of the average period in the past.
Channel trading indicator GRFLeadingEdge for MT5 uses an algorithm similar to that found in the STD channel (smoothing a straight line for a fixed number of periods), and outputs the last point, as well as 2 standard deviation channels, the width of which is set by the user.
Other technical indicators for MetaTrader 5