This envelope has an "auto band adjustment function" that reflects the most recent volatility in the band width by ATR.
This makes it easy to handle without the need to change the band width according to the volatility of the stocks to be displayed.
The time periods and colors of each time frame that can be displayed and the central band of the envelope are as follows.
Monthly: 2-year line (light blue) Weekly: 3-month line (black) Daily: 1 month line (blue) 4-hourly: 1-week line (green) 1 hour: 24 hour line (purple) 30-minute: 12-hour line (light purple) 15-minute: 4-hour line (orange) 5min:2hr (skin color) 1 minute: 30 minute line (gray-blue) 30 seconds: 10 minute line (blue-purple) 15-seconds: 7.5-minute line (sky blue) 10-seconds: 5-minute line (brown) 5-seconds: 2-minute line (emerald green)
Depending on where the price resides in the band, the following situations can be identified
・When inside the first band: Trendless
・Between the first and second band: Normal trend
・Between the 2nd and 3rd band: Strong trend
・When the third line is exceeded: Overheat condition
The first range is painted in gray and encourages not to follow the trend. In addition, the "up" sign will automatically light up when the price is above this gray zone, the "middle" sign when the price is in the middle of the gray zone, and the "down" sign when the price is below the gray zone.