RBCI = Range Bound Channel Index
These two indicators use digital filters. "RBCI2a.mq4" has an alert function too.

Range Bound Channel Index - is an overall sum of all main market cycles. Range filter parameters are selected from the current market spectrum. In simplified formula RBCI (k) = FATL (k)-SATL (k). RBCI is a quasi-stationary process that is a process with bound spectrum. When RBCI approaches its local maximum the prices approach the upper border of the trading channel and when RBCI approaches its local minimum the prices approach the lower border of the trading channel.

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edit 4/9/24: Please download a new version of "RBCI hist.mq4" at:
post1295539003.html#p1295539003

Thank you.