/*[[
	Name := Envelopes
	Author := tattoo/greybeard_xlx@yahoo.com
	Link := http://groups.yahoo.com/group/MetaTrader_Experts_and_Indicators
	Separate Window := No
	First Color := LimeGreen
	First Draw Type := Line
	First Symbol := 217
	Use Second Data := yes
	Second Color := Red
	Second Draw Type := Line
	Second Symbol := 218
]]*/
//Notes: 	Time frame = M15
//Notes: 	This indicator will generate a MA envelope and Up/Down Arrows when a possible 
//Notes:	reversal is pending.  look for a Candle and Awsome Osc. confirmation in the 
//Notes:	direction of the arrow within the next few bars..
//      ****As with all indicators,  Back check it and see how it preforms B4 use!!***
//********************************************************************************

Defines :
	mp (25);

Vars : 
	shift(0),
	EHI1(0),
	EHI2(0),
	EHI3(0), 
	ELO1(0),
	ELO2(0),
	ELO3(0),
	BandHi(0),
	BandLo(0);
				
SetLoopCount(0);
// loop from first bar to current bar (with shift=0)
For shift=Bars-1 Downto 0 Begin
	SetIndexValue(shift,0);
	SetIndexValue2(shift,0);
	
	
	BandHi = iEnvelopes(mp,MODE_EMA,0.3,PRICE_CLOSE,MODE_HIGH,shift);
	BandLo = iEnvelopes(mp,MODE_EMA,0.3,PRICE_CLOSE,MODE_LOW,shift);
	
	SetIndexValue(shift, BandHi);
	SetIndexValue2(shift, BandLo);
	
//****************************************************************	
	
	EHI1 = iEnvelopes(mp,MODE_EMA,0.3,PRICE_CLOSE,MODE_HIGH,shift+1);
	EHI2 = iEnvelopes(mp,MODE_EMA,0.3,PRICE_CLOSE,MODE_HIGH,shift+2);
	EHI3 = iEnvelopes(mp,MODE_EMA,0.3,PRICE_CLOSE,MODE_HIGH,shift+3);
	ELO1 = iEnvelopes(mp,MODE_EMA,0.3,PRICE_CLOSE,MODE_LOW,shift+1);
	ELO2 = iEnvelopes(mp,MODE_EMA,0.3,PRICE_CLOSE,MODE_LOW,shift+2);
	ELO3 = iEnvelopes(mp,MODE_EMA,0.3,PRICE_CLOSE,MODE_LOW,shift+3);
	
//****************************************************************

if 	Close[shift+1] > ELO1 and
	Low[shift+2] < ELO2 or
	Low[shift+3] < ELO3 Then 
	{
		SetArrow(time[shift+1],close[shift+1],218,Red);	
		};
	
if	Close[shift+1] < EHI1 and
	High[shift+2] > EHI2 or 
	High[shift+3] > EHI3 Then
	{
		SetArrow(time[shift+1],close[shift+1],217,LightGreen);
		};
End;