Maede Hair Indicator - Smart Price Channel

Slogan: "Style the market's movements with Maede Hair and beautifully identify trend directions!"

Indicator Overview

Maede Hair is an advanced price channel indicator based on weighted averages and price deviations. It helps traders identify potential price movement ranges.

How It Works

Middle Line: A weighted average giving more importance to recent prices.

Upper/Lower Channels: Calculated based on price deviations from the middle line.

Signals: Arrows indicating potential reversal points.

Key Settings

HalfLength: Channel calculation period (default: 55)

Price: Price type used (default: Weighted price)

BandsDeviations: Channel expansion coefficient (default: 1.618)

Interpolate: Enable/disable channel smoothing

History: Calculation history limit (default: 750 bars)

Applications

Identifying trading ranges

Detecting market trends

Finding optimal entry/exit points

Determining dynamic support/resistance levels

Important Notes

Performs better in trending markets

The 1.618 coefficient is based on Fibonacci ratio

Best used in combination with other indicators

Installation

Copy the .mq4 file to your MetaTrader4 MQL4 Indicators folder

Restart MT4 or refresh the Navigator window

Drag and drop the indicator onto your chart

Adjust parameters according to your trading style

This sophisticated channel indicator provides clear visual boundaries for price movements, making it valuable for both range-bound and trending market conditions. The inclusion of Fibonacci-based expansion coefficients adds a mathematical elegance to its calculations.