The Q Bands Buy/Sell Forex indicator works great for scalping and day trading any pair with great precision.
It’s built on Moving Averages with different price types.
The Q Bands MT4 indicator consists of 3 bands, all colored yellow. It creates a tradable buy/sell channel.
Scalping and day trading with this indicator is a really easy task.
How to interpret this Forex indicator?
- When the channel is sloping up, the overall trend is considered going up.
- When the channel is sloping down, the overall trend is considered going down.
Below, you will find trade ideas for scalping with the Q Bands indicator for good daily pips.
It’s a simple technique that works well during the most active trading hours.
Feel free to explore the Q Bands Buy/Sell Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Q Bands Buy/Sell Forex Indicator Chart
Here’s an example (EUR/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 Q Bands Buy/Sell Forex Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a long trade when price closes above the middle Q Bands indicator band from below.
Place a protective stop loss below the lower support band, or use your own stop loss placement strategy.
Close the Q Bands buy trade at the upper resistance band, or use your own take profit strategy.
Sell Trigger: Open a short trade (see chart) when price closes below the middle Q Bands indicator band from above.
Place a protective stop loss above the upper resistance band, or use your own stop loss placement strategy.
Exit the Q Bands sell trade at the lower support band, or use your own take profit strategy.
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Bands period, MA mode, bands shift, bands deviations, price type, color, width, style.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- 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: Q Bands
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.