Download Bollinger Bands MACD Indicator for MT4 - Free - [TFlab] | Forex Indicator Download - MetaTrader 4 Resources
The Bollinger Bands MACD indicator is one of the MetaTrader 4 indicators designed to improve the accuracy of identifying reversal points or trend continuation points.
Bollinger Bands are typically created to identify dynamic support and resistance levels and measure price volatility.
On the other hand, MACD is known as a tool for detecting trend strength and direction.
This combination indicator generates signals based on the interaction of the MACD line with the Bollinger Bands.
Indicator Table
| Indicator categories: | MT4 Oscillator Indicators Currency Strength MT4 Indicators Bands and Channels MT4 Indicators MACD indicator for MetaTrader 4 |
| Platforms: | MetaTrader 4 Indicators |
| Trading Skills: | Intermediate |
| Indicator Types: | Leading MT4 Indicators Trend MT4 Indicators Reversal MT4 Indicators |
| Time frame: | Multi Time Frame MT4 Indicators |
| Trading Style: | Intraday MT4 Indicators |
| Trading Tools: | Stocks MT4 Indicators Binary Options MT4 Indicators Cryptocurrency MT4 Indicators Forex MT4 Indicators |
Indicator Overview
The Bollinger Bands MACD indicator integrates three main components: MACD, Bollinger Bands and the combined signal system.
In this indicator, the MACD line moves within the Bollinger Bands range and its color changes to reflect the trend direction of the market.
When the MACD line turns green, it indicates the beginning or continuation of an uptrend. On the other hand, when the MACD line turns red, it signals the beginning or continuation of a downtrend.
Bullish trend example
In the CAD/JPY currency pair, if the MACD line is above or within the upper Bollinger Bands, it indicates strong bullish momentum and indicates that prices are heading towards an uptrend.
In this indicator, entry signals are shown in blue.
Bearish trend example
For the GBP/JPY currency pair , if the MACD line is below or crosses the Bollinger Bands, it indicates a downward trend.
This indicator automatically provides a bearish signal by changing the MACD line color to red.
Indicator Settings
- Chart Theme: background color of the chart;
- Fast ma period: fast MACD calculation period (default: 12)
- Slow ma period: slow MACD calculation period (default value: 26)
- bb period: Bollinger band calculation period (default value: 10)
- Bb std: Bollinger band standard deviation (default: 2.5)
- Alert: Alerts traders when MACD intersects Bollinger Bands
- Alert email : Sends an email alert to traders when MACD intersects Bollinger Bands
- Sound file: Alarm notification sound
- Look back: The number of candles the indicator has shown in the past
Conclusion
BB MACD Indicator Combined with Bollinger Bands The MACD indicator helps identify bullish and bearish trends in the market.
This indicator utilizes Bollinger Bands to display price volatility and MACD to identify entry and exit points. To increase the accuracy of confirming trade trends, Levels Indicators can be used as a complementary tool.
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