This point was raised before in this thread, but, I don't recall seeing an answer. Unfortunately, for whatever reason, thread searching isn't working right now so I can't pinpoint the prior post.
But, the question has to do with the Percent values which drive the deviation amount for the envelopes. The point raised before was that nothing below 0.1 could be edited within the Envelope indicator settings (e.g. it reverts to 0.0 for its value) and the evelope that gets created at percentages below 0.1 appear to be so tight as to be meaningless. For example, the default settings for UDFJPY are as follows:
Bring up the Envelope indicator and insert those settings to see what I'm talking about. The band is so tight that price regularly closes above and below it just about every bar. However, a value of 0.3 yields a "more meaningful" envelope. The docs for the iEnvelope function also show the deviation number apparently imited to the 10th decimal place (at least that's what they have by way of example). I'm wondering if there's just a simple error here which may be causing the 1st signal in actuality to be overlooked by virtue of a decimal precision issue. Or, maybe there's something else we're not aware of going on here.
Hendrick, could you kindly shed some light on this?
Thanks
Bill
But, the question has to do with the Percent values which drive the deviation amount for the envelopes. The point raised before was that nothing below 0.1 could be edited within the Envelope indicator settings (e.g. it reverts to 0.0 for its value) and the evelope that gets created at percentages below 0.1 appear to be so tight as to be meaningless. For example, the default settings for UDFJPY are as follows:
PHP Code
Percent = 0.0032;
EnvelopePeriod = 2;
Hendrick, could you kindly shed some light on this?
Thanks
Bill