True Range Envelopes Metatrader 4 Indicator
True Range Envelopes indicator looks similar to Bollinger Bands but slightly different because it also includes volatility for it’s band calculations. The price usually moves within the upper-and lower band.
BUY: Buy at the lower band with stop-loss below the most recent swing low. Take profit at the middle band or upper band.
SELL: Sell at the upper band with stop-loss above the most recent swing high. Take profit at the middle band or lower band.
Use in conjunction with other technical tools.
EUR/USD Daily Chart Example