Skip to content

LRMA Bollinger Bands Forex Indicator MT4

    The LRMA Bollinger Bands indicator for Metatrader 4 is an enhanced technical tool that provides better trade entries and exits.

    The indicator shows up as a Bollinger Bands indicator together with a mini dashboard showing the exact upper and lower bands values.

    All values update in real-time.

    A bullish trend occurs when the bands are sloping up while a bearish trend occurs when the bands are sloping down.

    Free Download

    Download the lrma-bb-indicator.mq4 indicator file (MT4)

    Indicator Chart Example

    The picture below shows the LRMA Bollinger Bands indicator attached to the Euro / U.S. Dollar H1 chart.

    How to use the LRMA Bollinger Bands indicator?

    The indicator can be used in multiple ways, find an example below:

    Buy Signal:

    • Open a buy transaction when the Bollinger bands are sloping up and price touches the lower blue Bollinger band.
    • Place your stop loss below the most recent swing low.
    • Exit the buy trade for a fixed take profit target or close the trade when price touches the upper Bollinger band.

    Sell Signal:

    • Open a sell transaction when the Bollinger bands are sloping down and price touches the upper blue Bollinger band.
    • Place your stop loss the above most recent swing high.
    • Exit the sell trade for a fixed take profit target or close the trade when price touches the lower Bollinger band.

    How to install the LRMA Bollinger Bands Forex indicator to the Metatrader 4 platform?

    • Download the lrma-bb-indicator.mq4 indicator file here and save it to your computer
    • Open your Metatrader 4 platform
    • Click on “File” (top menu) and then select “Open Data Folder” from the drop down menu
    • Click on “MQL4” and open the “Indicators” folder
    • Paste the indicator file in this folder
    • Restart Metatrader 4 and you’re ready to start using the indicator

    How to edit the indicator?

    • Attach the indicator to any trading chart of your preference
    • Right click in the chart and select “Indicators List” from the drop down menu
    • Select the indicator from the list and click on “Edit”
    • Now you can start editing the indicator (Inputs, Colors and Visualization)
    • Final step, click on the “OK” button to save the new configuration