An advanced Bollinger Bands indicator for Metatrader 4. The indicator draws the buy and sell zone. The buy zone appears above the middle Bollinger Band. The sell zone appears below the middle Bollinger Band.
The default BB values are 20,2,0. It also calculates the total BB range (Upper BB – Lower BB) and distance between the bands and the current price.
Buy signal: Look to buy above the middle BB band (buy zone).
Sell signal: Look to sell below the middle BB band (sell zone).
Currency pairs: any
Preferred Time frames: any
Configurable Indicator Options
BandsPeriod, BandsShift, BandsDeviations, colors,…
EUR/USD 1H Chart Example