The Bounce Strength Index Metatrader 4 indicator is a technical tool that measures the strength of the market.
Not being able to determine when price will make a retracement can be very frustrating.
Mastery of the Bounce Strength Index MT4 indicator can unlock the possibilities of better determining market zones that will yield profitable trades.
The strength of bulls and bears in the market are being gauged using the histograms of the Bounce Strength Index signals indicator.
- Just to get a better view of how the market is fairing, more attention should be paid to the colored indicator histograms and their position along the zero-horizontal level.
- Generally speaking, the default setting of the indicator tends to place dodger blue and tomato histograms above or below the zero-horizontal level in a statement that supports bullish or bearish price momentum respectively.
- The higher the dodger blue histograms spikes away from the 0.00 horizontal level, the stronger the bullish trend. Conversely, the lower the tomato histograms dips from the zero-horizontal level, the stronger the bearish trend.
Feel free to explore the Bounce Strength Index Forex indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Bounce Strength Index Forex Indicator Chart (NZD/USD M5 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 Bounce Strength Index MT4 Signals Indicator
Buy Signal: Go long when the Bounce Strength Index MT4 indicator prints dodger blue histograms above the zero-horizontal level.
When the blue line of the Alligator indicator crosses below the lime and red lines in a bottom up manner, it is a buy signal confirmation.
Sell Signal: Go short when the Bounce Strength Index MT4 indicator prints tomato histograms below the zero-horizontal level.
When the blue line of the Alligator indicator crosses above the lime and red lines in a top downward fashion, it is a sell signal confirmation
Exit buy trade: Close all buy orders if while a bullish trend is running, the Bounce Strength Index indicator prints a tomato bar below the 0.00 level. Else, the lime line of the Alligator indicator intersects its red line.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the Bounce Strength Index indicator prints a dodger blue bar above the 0.00 level. Else, the lime line of the Alligator indicator intersects its red line.
Tips: The Bounce Strength Index MT4 Indicator is a highly-profitable trading tool that stretches profits taking into the green region when adequately combined with other technical indicators.
For instance, we combined it with the Alligator MT4 indicator for improved trading results.
Range Period, slowing, avg period, using tick volume, signal color, slow color.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Oscillator
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.