Standard deviation bands quietly assume symmetric, well-behaved residuals. This channel avoids that by fitting conditional quantiles directly: 0.1, 0.5, and 0.9 lines over a rolling window, allowing asymmetry and reducing sensitivity to extreme bars.
Quantile lines are estimated by minimizing pinball loss, solved with iteratively reweighted least squares. A key implementation detail is a relative convergence test so iteration counts remain stable across instruments with very different price scales, plus epsilon flooring to prevent infinite weights.
The solution is packaged as reusable MT5 classes and two indicators: a chart channel and a separate gauge exposing Spread (distribution-free dispersion) and Skew (upside vs downside width). Validation scripts confirm the fitted lines split window samples close to the intended quantile proportions, making...
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