Weighted Average & Weighted Deviation Bollinger Bands

From Mladen Rakic: Variation of the Bollinger bands but it uses linear weighted average and weighted deviation



Recommendations:

• Use it as any Bollinger type indicator

Please also see the accompanying Weighted Deviation (subwindow) indicator for MT4.

PS: The Mt5 version can be found here .

Banzai wrote: Thu Jun 23, 2022 5:12 am Those colored rectangles that you see on the main chart,
they're the squeezes.

You trade on the breakout of those boxes.

H1 is your trend.

Is that really realistic? That the system produces almost no false signals. I have applied the indicator on a few charts and in the statistics that the indicator displays are mostly between 95 and 100% of the trades are winning trades. That would be the holy grail

pail1217 wrote: Wed Mar 15, 2023 10:31 pm Is that really realistic? That the system produces almost no false signals. I have applied the indicator on a few charts and in the statistics that the indicator displays are mostly between 95 and 100% of the trades are winning trades. That would be the holy grail

The entries are real i think, but as you can see the indicator always picks the best exit price, that is not real.

ffsss wrote: Thu Mar 16, 2023 4:54 am The entries are real i think, but as you can see the indicator always picks the best exit price, that is not real.

yes, I saw, my post was right after the installation. But the entries are still not bad. You just have to think of something for the exits yourself. The only deficit of the entrances is the SL, which is often very far away.

pail1217 wrote: Wed Mar 15, 2023 10:31 pm Is that really realistic? That the system produces almost no false signals. I have applied the indicator on a few charts and in the statistics that the indicator displays are mostly between 95 and 100% of the trades are winning trades. That would be the holy grail

I think that if it is combined with another indicator "improving" the entries, like a volume profile, a pivot point, this indicator could be really interesting. thanks for reminding me of him, by the way.

RodrigoRT7 wrote: Thu Mar 16, 2023 1:55 pm I think that if it is combined with another indicator "improving" the entries, like a volume profile, a pivot point, this indicator could be really interesting. thanks for reminding me of him, by the way.

I used it on 15m with two supertrends on 1h and 4h and the ADX, the RSI and the HAOS, as shown in the picture. If the results are positive I will post it here.

TEAMTRADER wrote: Tue Mar 07, 2023 4:33 am Got a 'sma bollinger band' that nearly does the job - it is close enough to smma when the ma's are changed in value and it is in multiple operation on the attached chart.
TEAMTRADER

Hi, do you mind sharing indicators and template please

kaywax wrote: Thu Mar 16, 2023 8:43 pm Hi, do you mind sharing indicators and template please

Extremely sorry but I have lost all the indicators and templates I had on that MT4 platform and all my work has been lost.
I am in the process of recreating some of the most important indicators and templates but this is taking a very long time.
If I am able to recreate it I will post it for you - sorry once again.
TEAMTRADER
PS - if there is a specific indicator that you had your eye on let me know and I will concentrate on getting that first - I AM NOT A CODER but I will try.

pail1217 wrote: Thu Mar 16, 2023 7:50 pm I used it on 15m with two supertrends on 1h and 4h and the ADX, the RSI and the HAOS, as shown in the picture. If the results are positive I will post it here.

I'm curious to know about the RSI indicator on the bottom of your screen and its settings. What levels did you use for the horizontal green and red lines?

TransparentTrader wrote: Fri Mar 17, 2023 3:00 am I'm curious to know about the RSI indicator on the bottom of your screen and its settings. What levels did you use for the horizontal green and red lines?

I have chosen 78.6 and 23.6 here. I'm just a Fibonacci fan because I'm basically an Elliott Wave analyst. Also, I have found that these levels are extremely relevant for reversal points. So if you want to know the end of a medium-term movement, one of these levels must have been reached before the market can turn back in the opposite direction.