Description: Moving Average is a well-known though simple technical analysis tool, that can be applied in most trading journeys. By adding an envelope (a certain amount above and below the moving averages, cited from Investopedia), the indicator aligned its aim to identify the reversal area i.e. when the price reaches the envelopes, the price tends to have a reverse. In this indicator, the improvement is by adding multiple envelopes at once, thus can identify the further phase of the reverse area when the price apparently continues current direction.
Upper Band = MA * (1 + %envelope) Lower Band = MA * (1 - %envelope)
Notes: 1). In this indicator, the default value of the moving average utilized is set to 10, 20, 50, 100 respectively 2). The band initial value is set to 0.2, and increases by 0.2 for each increasing MA Length
Feature: 1). Multiple Moving Average Envelope 2). Information Table as displayed Rolling Deviation, Rolling Maximum Drawdown, and Value-at-Risk
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Adjustment on Value-at-Risk
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slight adjustment on moving average using "switch"
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update on additional options to display moving average line, and adjustment of compounding growth within information value