Re: Bollinger Band type indicators for MT4

311
Jimmy wrote: Tue Feb 27, 2018 7:08 pm A beautiful version of the standard Bollinger Bands that Mladen kindly made for us last year called "Shaded Bollinger Bands". Now fixed for MT4 1090 display.

PS: Be sure to go into your chart's "Properties" and set "Chart on foreground".


USDJPYM30BBSHADEDFIX.png
Bollinger Bands Shaded.mq4
Hi Jimmy..how did you get vertical dotted lines?


Re: Bollinger Band type indicators for MT4

312
Squeeze_Break



This indicator is based on a Strategy mentioned in John Carter's book, Mastering the Trade.
The basic idea behind the strategy is that markets tend to move from periods of low volatility to high volatility and visa versa. The strategy aims to capture moves from Low to High volatility.

For gauging this he uses two common indicators - Bollinger Bands and Keltner Channels (ok, not so common!).
He also uses the Momentum indicator to provide a trade bias as some as the Bollinger Bands come back outside the Keltner Channels.


The Squeeze_Break indicator combines this into a signal indicator and has the following components :

1.
A positive Green histogram means that the Bollinger Bands are Outside the Keltner Channels and the Market is Lightly to be Trending or Volatile.
The stronger the Histogram the stronger the directional Price move.

2.
A negative Red histogram means that the Bollinger Bands are inside the Keltner Channels and the Market is Lightly to be Consolidating.
The stronger the Red histogram the tighter Price Action [PA] is becoming.

3.
Incorporated into the indicator is a Momentum indicator. According to the strategy J. Carter goes long when the Bollinger Bands break outside the Keltner Bands and the Momentum indicator is Above the Zero line. He goes short when the Momentum indicator is Below the Zero line.

4.
Also added other indicator INFO in the 'Top Left Hand corner' to give a Broader idea of Current Market conditions.
The indicator provides Audio alerts when a potential Breakout is occurring. This indicator tends to be Better with the Larger timeframes.

Personally I don't trade purely on an Alert signal alone. It's just a handy tool for Warning me of changes in Price Action [PA] and potential Breakouts.
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Re: Bollinger Band type indicators for MT4

314
Hello mr. tools/Mladen

The attached indicator is incredibly useful and accurate in timing price switching in range. I do have a request to make though in terms of how I like to read my indicators. In this case the rsi or rsx line is set by default and strictly to width = 1. Is it possible to most kindly change that parameter to allow width to become adjustable by slope color? It is critical to me i) because of my poor vision and ii) psychologically and otherwise it is important to me to be able to set slope colour with such that one is thicker than the other and while I have come to love this tool I am unable to do that because of the strict setting. I shall be most grateful for your kind assistance. Thanks

(-_-)

:clap:

Re: Bollinger Band type indicators for MT4

315
Many of us are familiar with the old school Bollitoucher indicator which has been around for years. Although a great tool, it was lacking a few essentials, so after asking Mladen to improve it he kindly upgraded it for us by adding:

  • Multi-timeframe mode
  • Interpolation
  • Alerts on certain amount of pips near the outer Bollinger Bands as an early warning
  • Alert on the dots only
  • Push notifications

This is a superb indicator to confirm if price has touched the outer bands (or to warn you if price is approaching a certain amount of pips near the outer bands) as it displays a small square dot on top (or underneath) the candlestick when the bands are touched, breached, or as mentioned, if price has reached a certain amount of pips near the bands (customizable by the user).

Strategy uses: This upgraded version of Bollitoucher can be used to take counter-trend scalp trades or trend trades in the direction of the outer bands after a retrace.
Personally, I use it on Bollinger Bands setting of 20,3 and I wait for volatility and price to burst and touch the outer bands on the 15 minute chart then I counter-trend trade on that current candle. If you visually backtest this simple method you will see that when price hits the outer Bollinger Bands on a setting of 20,3 it is safe to say that 99% of the time price will bounce back! I have used this method for years to collect pips consistently especially in volatile pairs like GBPJPY.

Note: This indicator does not display the Bollinger Band median line so be sure to add a 20 period Simple Moving Average on "Close" to your chart if you need the median line.

These users thanked the author Jimmy for the post (total 6):
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Guide to the "All Averages" Filters (ADXvma, Laguerre etc.) 🆕
Use Fibonacci numbers for indicator settings + How to draw Fibonacci Extensions
An easy trick for drawing Support & Resistance


Re: Bollinger Band type indicators for MT4

316
Jimmy wrote: Wed Mar 07, 2018 4:12 pm Many of us are familiar with the old school Bollitoucher indicator which has been around for years. Although a great tool, it was lacking a few essentials, so after asking Mladen to improve it he kindly upgraded it for us by adding:

  • Multi-timeframe mode
  • Interpolation
  • Alerts on certain amount of pips near the outer Bollinger Bands as an early warning
  • Alert on the dots only
  • Push notifications

This is a superb indicator to confirm if price has touched the outer bands (or to warn you if price is approaching a certain amount of pips near the outer bands) as it displays a small square dot on top (or underneath) the candlestick when the bands are touched, breached, or as mentioned, if price has reached a certain amount of pips near the bands (customizable by the user).

Strategy uses: This upgraded version of Bollitoucher can be used to take counter-trend scalp trades or trend trades in the direction of the outer bands after a retrace.
Personally, I use it on Bollinger Bands setting of 20,3 and I wait for volatility and price to burst and touch the outer bands on the 15 minute chart then I counter-trend trade on that current candle. If you visually backtest this simple method you will see that when price hits the outer Bollinger Bands on a setting of 20,3 it is safe to say that 99% of the time price will bounce back! I have used this method for years to collect pips consistently especially in volatile pairs like GBPJPY.

Note: This indicator does not display the Bollinger Band median line so be sure to add a 20 period Simple Moving Average on "Close" to your chart if you need the median line.


GBPUSDM15BOLLITOUCHERMAG.png
BolliToucher2_pushnotifications 1.2.ex4
Great! Could it be also possible to have it for reversal use when I use BB as filter tool? That means that the indi would alert me when the price approaches outer bands from outside the bands, not inside. Also I found great use of smoothing functionality for BB but I lack the classic 39 averages (my indi has only around 15 MA types).

Re: Bollinger Band type indicators for MT4

317
Darkdoji wrote: Thu Mar 01, 2018 8:41 pm Hello mr. tools/Mladen

The attached indicator is incredibly useful and accurate in timing price switching in range. I do have a request to make though in terms of how I like to read my indicators. In this case the rsi or rsx line is set by default and strictly to width = 1. Is it possible to most kindly change that parameter to allow width to become adjustable by slope color? It is critical to me i) because of my poor vision and ii) psychologically and otherwise it is important to me to be able to set slope colour with such that one is thicker than the other and while I have come to love this tool I am unable to do that because of the strict setting. I shall be most grateful for your kind assistance. Thanks

(-_-)

:clap:
Hello Mr. Tools/Mladen

I sincerely hope you have not ignored my request above or consider it a nuisance of sorts as it may appear trifle --- if so I assure you it is not and is indeed most critical and sincerely plead for such assistance as requested. It is of course possible that the width is set to a specific value or 1 for the fact of resource constraints (e.g. the number of available buffers) as I am not a programmer I would not know and ask that you still find a way to still assist. Thanks a lot

(-_-)

Re: Bollinger Band type indicators for MT4

318
Darkdoji wrote: Thu Mar 08, 2018 9:39 pm Hello Mr. Tools/Mladen

I sincerely hope you have not ignored my request above or consider it a nuisance of sorts as it may appear trifle --- if so I assure you it is not and is indeed most critical and sincerely plead for such assistance as requested. It is of course possible that the width is set to a specific value or 1 for the fact of resource constraints (e.g. the number of available buffers) as I am not a programmer I would not know and ask that you still find a way to still assist. Thanks a lot

(-_-)
Are you wanting the red and green to have separate line widths?


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