The Bollinger Bands Stop And Reverse MT4 indicator is always active in the currency market. Either with a buy or sell position.
It’s a stop and reverse Forex trading indicator with a lot of different parameters and functions to choose from (experiment with it).
This is a great indicator for beginners because it’s a very simple buy/sell indicator to follow.
Some traders make 500+ pips per month with it!
Deploy for scalping, day trading and swing trading.
- A green signal line that appears somewhat below the candlesticks represents a buy signal.
- An orange signal line that appears somewhat above the candlesticks represents a sell signal.
- The indicator is always in a trade position.
- Very easy to trade with, even for newbies.
- Sends out alerts when the open position needs to be reversed.
Read below how to open buy and sell trades with the Bollinger Bands Stop And Reverse Forex Metatrader 4 indicator.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
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Bollinger Bands Stop And Reverse 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 Stop And Reverse Signals Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Initiate a buy trade on the condition that the Stop and Reverse Forex indicator draws a green signal line underneath the candlesticks. This is your buy entry.
Place initial stop loss below previous swing low support, or use your own favorite SL method.
Close the buy trade when an orange sell signal line appears on the chart. Reverse the position now to sell.
Sell Trigger: Initiate a sell trade on the condition that the Stop and Reverse Forex indicator draws an orange signal line above the candlesticks. This is your sell trade entry.
Place initial stop loss above previous swing high resistance, or use your own favorite SL method.
Close the sell trade when a green buy signal line appears on the chart. Reverse the position now to buy mode.
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Time frame, bands period, bands deviation, bands risk, bands average type, price, alerts, 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.