Custom Bollinger Bands BUY SELL Zone MQ4 Indicator – A technical analysis tool that is comprised of three data points that together create an upper and lower trading channel (band) that are two standard deviations from the middle line, which measures the mid-term trend.
Price fluctuations between the upper and lower bands measure volatility and deviation from the 20-day simple moving average.
- Time Frame: M5 or higher
- Currency Pairs: Any
- Download “TraderVersity.Com-BBBUYSELLZONE” (Zip/RAR File).
- Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators/
- Copy the “TraderVersity.Com-BBBUYSELLZONE.tpl” file (template) to your Metatrader Directory …/templates /
- Start or restart your Meta Trader Client.
- Select Chart and Time frame where you want to test your Forex system.
- Right-click on your trading chart and hover on “Template”.
- Move right to select “TraderVersity.Com-BBBUYSELLZONE” trading system and strategy
- You will see “Bollinger Bands BUY-SELL Zone System” is available on your Chart
- Price break out the BUY Zone
- Price break out the SELL Zone
The bottom or top of the band is likely to provide support or resistance, just like a “horizontal” support or resistance level.
In many cases, support or resistance can also be found at the 20-period moving average, which marks the center of the band.