Bands LSMA Forex Metatrader 4 Indicator
The Bands LSMA trading indicator looks similar to the Bollinger Bands indicator but the LSMA uses different parameters and settings.
However, you can apply the same rules to trade with it.
Similarly, the LSMA Forex MT4 indicator consists of a middle band and two outer bands that act as support and resistance.
It will give you a clue about market volatility and where price is heading to.
- When the LSMA bands are sloping up, it suggests price is sloping up as well.
- When the LSMA bands are sloping down, it suggests price is sloping down as well.
- Wide LSMA bands indicate that the currency market is more volatile.
- Narrow LSMA bands indicate that the currency market is less volatile.
Feel free to explore the Bands LSMA Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Bands LSMA Forex Indicator Chart
Here’s an example (USD/JPY D1 chart) of how the indicator should look like when loaded onto the Metatrader 4 chart.
Attach the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Signals With The Bands LSMA Forex Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a buy trade when price closes above the middle band from below, while the bands are sloping up (bullish price action).
Place a protective stop loss below the previous swing low.
Close the buy trade when price touches the upper LSMA resistance band.
Sell Trigger: Open a sell trade when price closes below the middle band from above, while the bands are sloping down (bearish price action).
Place a protective stop loss above the previous swing high.
Exit the sell trade when price touches the lower LSMA support band.
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Bands period, bands shift, bands deviations, color, width, style.
The indicator can be deployed as a standalone trading system or strategy.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, DeMarker,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Bollinger Bands
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.