The Bollinger Bands Trend Analyzer indicator for MT4 is one of the best Bollinger Bands indicators I have ever seen.
The Bollinger Bands Trend Analyzer indicator analyzes the market in real-time and tells you exactly where to buy and sell currency pairs based on Bollinger Bands.
Traders use this indicator for scalping, day trading and swing trading on the higher time frames.
The buy and sell trading rules are very simple, even for absolute beginners.
- Green Bollinger Bands trend analyzer bars indicate the start of an uptrending market.
- Red Bollinger Bands trend analyzer bars indicate the start of a downtrending market.
- Works for any trade style and time frame.
Read below how to open profitable buy and sell trades with the Bollinger Bands Trend Analyzer 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 Trend Analyzer Forex Indicator Chart
Here’s an example (AUD/USD M5 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 Trend Analyzer Forex Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Go long when the indicator draws its first green bar on the chart. It indicates the start of an uptrend.
Place your initial stop loss below the previous swing low, or use your own favorite SL method.
Close the buy trade when the first red Bollinger Bands bar appears on the chart.
Sell Trigger: Go short when the indicator draws its first red bar on the chart. It indicates the start of a downtrend.
Place your initial stop loss above the previous swing high, or use your own favorite SL method.
Close the sell trade when the first green Bollinger Bands bar appears on the chart.
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Periods, deviation, method to smooth, period to smooth, slope, percent, show middle line, 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: trend reversal
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.