The BollingerBands© indicator is a derivative from the standard Bollinger Bands. When the indicator displays peaks, you should wait for the reversal.
The formula for calculation of the indicator: BollingerBands [bar]=(close[bar]-UpperBB[bar])/(LowerBB[bar]-UpperBB[bar]).
MT5 Indicator – Download Instructions
BollingerBands© is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
BollingerBands© provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install BollingerBands©.mq5?
- Download BollingerBands©.mq5
- Copy BollingerBands©.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on BollingerBands©.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator BollingerBands©.mq5 is available on your Chart
How to remove BollingerBands©.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: