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Re: Bollinger Bands type indicators for MT4

太虚一毫, Fri Jun 17, 2022 1:14 am

Banzai wrote: Thu Jun 16, 2022 9:29 am BB MACD zero
(on/off button)


BB = Bollinger Bands
MACD zero means that
if MACD is above zero, then draw a GREEN dot
else if MACD is below zero, then draw a RED dot.

If you see a bunch of green dots, go LONG/BUY
If you see a bunch of red dots, go SHORT/SELL

The line in the middle is the Moving Average. The default is SMA (20).
You can turn the price label of the Moving Average on or off.
If it's a downtrend, then the price label color is red.
If it's an uptrend, then the price label color is green.

For the Moving Average, you get to choose from the basic 4:
Simple Moving Average,
Exponential Moving Average,
Smooth Moving Average,
and
Linear Weighted Moving Average.

For the prices, you get to choose from the basic 7:
Close, Open, High, Low, Median, Typical, or Weighted.

You can choose to display 1 band, double bands, or multiple bands.
The Bands are just standard deviations.

Watchout for Bollinger band squeezes. Trade on the breakout of the squeezes.
Image


Mr. Banzai's masterpiece BB MACD zero signals BT.mq4 is very interesting. :thumbup:

Looking forward to teachers adding MTFs, full prices, averaging methods, etc.

Infinite merit!
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