3-Band Price Envelope Border Ligns Metatrader 4 Forex Indicator
The Border Ligns Metatrader 4 indicator draws a high probability 3-band price envelope that wraps around price.
It’s able to spot swing high and swing low regions of the market.
The levels created by the Border Ligns indicator can be used as dynamic support and resistance areas that work in conjunction with other Pivot/Fibonacci tools.
The presence of the middle band can be used to define market trends.
We can say this indicator is also a trend-following indicator with good win ratio!
- In order to fully understand how the market works, more attention should be given to how the middle line of the indicator interacts with the Moving Average line.
- The lower outer band represents dynamic support, the upper outer band depicts dynamic resistance, while the middle band is the trend decider.
- The Border Ligns indicator is quite suitable for trading any forex pair that is available on the MT4 platform and performs pretty well on all timeframe charts.
Feel free to explore the 3-Band Price Envelope Border Ligns indicator’s different parameters and settings to create your own personalized indicator setup.
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Border Ligns Forex Indicator Chart (EUR/USD H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Border Ligns MT4 Indicator
Buy Signal: Go long when the magenta 36 SMA indicator crosses below the middle lime colored Border Ligns MT4 indicator line in a bottom up fashion. Market sentiment is said to be extremely bullish when price trades above the lime middle line of the Border Ligns indicator.
Sell Signal: Go short when the magenta 36 SMA indicator crosses above the middle lime colored Border Ligns indicator line in a top downward manner. Market sentiment is said to be extremely bearish when price trades below the lime middle line of the Border Ligns indicator.
Exit buy trade: Close all buy orders if while a bullish trend is running, the magenta 36 SMA line intersects with the middle lime filled line of Border Ligns indicator.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the magenta 36 SMA line intersects with the middle lime filled line of Border Ligns indicator.
Tips: The indicator can act as a standalone technical tool but attains best results when other indicators are added to it.
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History deep, future.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Trend, Breakouts.
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.