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HomeForex MT4 IndicatorsPrice Border Indicator

Price Border Indicator

Introduction to the Price Border Indicator

The Price Border Indicator works in a similar manner to the Bollinger Bands indicator. That forex indicator plots a three-band price envelope that is able to identify potential swing high or swing low areas of the market. It is a suitable trading tool for both beginners and more advanced forex traders.

The Price Border 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 does it work? How to apply in trading?

Trading Rules Explanation

Signals provided by the Price Border Indicator are really intuitive and will not cause you difficulties. When the price reaches the lower band of the indicator, it means an oversold market condition. You can treat it as dynamic support of the market. Similarly, when the price hits the upper band of the indicator, the market is considered to be in an overbought state. You can treat it as the dynamic resistance of the market. The mid-line works as the trend decider. Price floating above its level reflects still an ongoing bullish trend, and an opposite scenario represents an ongoing bearish trend.

Buy Signal

Follow these steps for a long trade:

  • Slope of the Price Border indicator is upwards
  • Price hits and rejects lower band of the Price Border
  • An bullish candlestick pattern forms
  • Price swings higher from recent low swing
  • Buy trade is triggered after the above conditions are met
  • Set stop loss a few pips below the last swing low of the market
  • Take profit or exit whenever the price hits opposite band of the Price Border indicator or use your own method of trade exit

Price Border Indicator Example of Buy Trade

Sell Signal

Follow these steps for a short trade:

  • Slope of the Price Border indicator is downwards
  • Price hits and rejects upper band of the Price Border
  • An bearish candlestick pattern forms
  • Price swings lower from recent high swing
  • Sell trade is triggered after the above conditions are met
  • Set stop loss a few pips above the last swing high of the market
  • Take profit or exit whenever the price hits opposite band of the Price Border indicator or use your own method of trade exit

Price Border Indicator Example of Sell Trade

As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology. It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.

How to set up the Price Border indicator in MT4?

Installation Guide

Download the Price Border.rar archive at the bottom of this post, unpack it, then copy and paste the Price Border.ex4 or Price Border.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.

Bottom Line

The Price Border 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.

Download Free Forex MT4 Price Border Indicator

To download the Price Border Indicator for Metatrader 4 (MT4) for free just click the button below:

Price Border Indicator Free Download

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