RBCI (Range Bound Channel Index) Indicator is calculated by means of the channel (bandwidth) filter (CF). It is a band-pass digital filter for filtration of low-frequency trend and high-frequency noise.
This is its simplified formula:
RBCI (k) = FATL (k)-SATL (k)
- File: RBCI.mq4
- Size: 3 Kb
Range Bound Colored
This version combines RBCI indicator with Bollinger Bands.
- File: RBCI2.mq4
- Size: 6 Kb