Val Bands V3 Oscillator Download for MetaTrader 5 – Free – [TFlab]

The Val Bands V3 indicator provides a comprehensive view of trend strength and market entry/exit points by combining Bollinger Bands with color-coded histograms.

This trading tool calculates Bollinger Bands based on candle length, providing greater flexibility in analyzing price movements. Colored histograms provide traders with a range of insights into current market trends.

Val Bands V3 Oscillator Spec Sheet

The following table shows the specifications of the Val Bands V3 indicator:

Val Bands V3 indicators at a glance

In the Val Bands V3 oscillator, the histogram color acts as a signal of market conditions.

Yellow bars indicate neutral or range-bound markets. Light blue bars indicate a weak bullish trend, while dark blue bars reflect a strong bullish trend.

Conversely, pink bars represent a mildly bearish momentum and red bars are used to indicate significant downward pressure during sharp market declines.

bullish trend conditions

According to the analysis of the GBP/USD currency pair on the 1-hour time frame, the appearance of the first blue histogram above the Bollinger Bands can be interpreted as a sign to initiate buy positions.

The continuing dark blue bar in the trend confirms the increasing bullish movement of the trend.

Bearish trend conditions

According to the 15-minute chart analysis of the Tron (TRX) cryptocurrency, two red bars closed in the upper Bollinger Bands area.

In this case, the first color change in the histogram bar may be interpreted as a market reversal and a possible sell entry point.

Additionally, the increase in the size and frequency of pink and red bars indicates intensifying selling pressure and a strengthening of the downtrend.

Val Bands V3 Indicator Settings

The image below shows the settings of the Val Bands V3 indicator:

• Bands Period: used to calculate the period of Bollinger Bands
• Bands Method: The average method used by Bollinger Bands
• Bands Deviation: The standard deviation coefficient used to draw Bollinger Bands and Lower Lines
• Bands Shift: Bollinger Bands Shift
• Show Bands: Toggle showing or hiding bands
• Lookback: number of previous candles used for indicator calculations

Conclusion

The Val Bands V3 Oscillator helps identify market trends and volatile conditions by analyzing candlestick lengths.

With color-coded histogram bars, it provides detailed insights into trend strength, potential reversal areas, and optimal trade entry and exit points.

One of the main advantages of this tool is its wide applicability across various markets, including Forex , cryptocurrencies , stock indices, and even commodities.