The Bollinger Bands Buy/Sell Zone MT4 indicator displays interesting zones where to buy and sell Forex pairs easily for daily pips.
The indicator consists of a middle band and two outer Bollinger Bands.
You can use this indicator for scalping, day trading and swing trading purposes.
In the upper right part of the activity chart, the indicator gives you all Bollinger Bands info in numbers and updates in real-time with every tick.
- When the bands are sloping up, the market is in an uptrend.
- When the bands are sloping down, the market is in a downtrend.
- The Crimson colored part above the middle Bollinger Band is called the buy zone.
- The RoyalBlue colored part below the middle Bollinger Band is called the sell zone.
Read below how to open buy and sell trades with the Bollinger Bands Buy/Sell Zone technical indicator.
Feel free to explore the MT4 indicator’s different parameters and settings to create your own personalized indicator setup.
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Bollinger Bands Buy/Sell Zone Forex Indicator Chart
Here’s an example (AUD/USD H1 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 Bollinger Bands Buy/Sell Zone Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a buy trade when the Bollinger Bands are sloping up (bullish trend) and price touches the middle Bollinger Band. This is you buy entry price.
Place your initial stop loss below the previous swing low, or use your own favorite SL method.
Close the buy trade when price touches the upper Bollinger Band (resistance).
Sell Trigger: Open a sell trade when the Bollinger Bands are sloping down (bearish trend) and price touches the middle Bollinger Band. This is you sell entry price.
Place your initial stop loss above the previous swing high, or use your own favorite SL method.
Close the sell trade when price touches the lower Bollinger Band (support).
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Bands period, deviations, bands shift, 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,…)
- Trend indicators (Moving Average, Bollinger Bands, ADMI, Parabolic SAR,…)
- 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.