Introduction to the Advanced Bollinger Bands Indicator
The Advanced Bollinger Bands Indicator is a sophisticated version of the popular Bollinger Bands indicator as it has several additional features. The first thing you will probably notice is that area above the middle line of the Bollinger Band is green and area below it is red. You will also get price values for Upper Band, Middle Line and Lower Band. What’s more, there is a small dashboard in the upper right corner of the chart providing all information.
The Advanced Bollinger Bands Indicator fits all kinds of timeframes and currency pairs. It is displayed directly on the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Advanced Bollinger Bands indicator in MetaTrader (MT4)?
Download the Advanced Bollinger Bands.rar archive at the bottom of this post, unpack it, then copy and paste the Advanced Bollinger Bands.ex4 or Advanced Bollinger Bands.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Advanced Bollinger Bands indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 Advanced Bollinger Bands Indicator
To download the Advanced Bollinger Bands Indicator for Metatrader 4 (MT4) for free just click the button below: