The Extreme Bollinger Bands Alert Metatrader 4 indicator alerts traders when price closes above or below the Bollinger Bands.
It can indicate extreme price movement that might trigger interesting buy or sell trades.
The indicator will draw a colored bullet on the chart + alerts you when price closes above or below the Bollinger Bands.
Just load the Extreme Bollinger Bands Alert indicator onto the Metatrader 4 chart and start trading with it in minutes.
Key Takeaways
- A white colored bullet appears on the chart when price closes above the upper Bollinger Band.
- A blue colored bullet appears on the chart when price closes below the lower Bollinger Band.
- Does not repaint any bullet signals.
- Works well for scalping and day trading purposes.
Feel free to explore the Extreme Bollinger Bands Alert Forex indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “fiji-bb-alert.ex4” Metatrader 4 indicator
Indicator Example Chart (EUR/USD M15 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 Extreme Bollinger Bands Alert MT4 Forex Indicator
Buy Signal: Execute a buy trade order when the Bollinger Bands are pointing up and a white bullet appears on the chart.
Place your stop loss 3 pips below the lower Bollinger Bands, or use your own favorite stop loss method.
Close the buy trade for a fixed profit target, for example aim for +20 pips on the 5-minute time frame.
Alternatively, exit the buy trade for a reward/risk ratio of 1.5 or better.
Sell Signal: Execute a sell trade order when the Bollinger Bands are pointing down and a blue bullet appears on the chart.
Place your stop loss 3 pips above the upper Bollinger Bands, or use your own favorite stop loss method.
Close the sell trade for a fixed profit target, for example aim for +12 pips on the 1-minute time frame.
Alternatively, exit the sell trade for a reward/risk ratio of 1.5 or better.
Download This Forex Indicator Now
Download the “fiji-bb-alert.ex4” MT4 indicator
Input Parameters
Bands period, bands deviation, MA mode, MA price, bars back, use sound, signal bar, colors, width, style.
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
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
