Download Bollinger Bands MACD Indicator for MT5 - Free - [TFlab] | Forex Indicator Download - MetaTrader 5 Resources
The Bollinger Bands MACD indicator is one of the MetaTrader 5 indicators, designed to combine the two powerful tools of MACD and Bollinger Bands for identifying reversal points and trend continuations in trading.
Bollinger Bands show price fluctuations, while MACD analyzes trend strength and direction. When the MACD line crosses the Bollinger Bands, buy and sell signals are generated.
Indicator Table
| Indicator categories: | Oscillators MT5 Indicators Currency Strength MT5 Indicators Bands and Channels MT5 Indicators MACD indicator for MetaTrader 5 |
| Platforms: | MetaTrader 5 Indicators |
| Trading Skills: | Intermediate |
| Indicator Types: | Trending MT5 Indicators Leading MT5 Indicators Reversal MT5 Indicators |
| Time frame: | Multi Time Frame MT5 Indicators |
| Trading Style: | Intraday MT5 Indicators |
| Trading Tools: | Forex MT5 Indicators Cryptocurrency MT5 Indicators Stocks MT5 Indicators Binary Options MT5 Indicators |
Indicator Overview
When the MACD line crosses the Bollinger Bands, the indicator shows traders a buy or sell signal.
When price volatility decreases, the bands move closer together. Conversely, when price volatility intensifies, the distance between the bands widens further.
The Bollinger Bands MACD indicator consists of three main components: MACD, Bollinger Bands and the Combination Signal System. This indicator combines MACD and Bollinger Bands to provide traders with advanced trend analysis and decision-making tools.
Indicators are in an upward trend
The chart shows the AUD/NZD currency pair on a 30 minute time frame.
If the price is in a downtrend and the MACD line crosses or breaks above the upper Bollinger Bands, the MACD color changes from purple to green.
Traders can consider the possibility of price reversal in these areas and enter a Buy trade after receiving confirmation.
Indicators are in a downward trend
If the price is in an uptrend and the MACD line crosses or breaks above the upper Bollinger Bands, the MACD line color changes from green to purple.
This situation may indicate overbought conditions in the market and the possibility of a price decline.
The chart below shows the EOS cryptocurrency on the 4-hour time frame. The sell area is highlighted in purple and traders can enter the Sell trade after receiving the necessary confirmations.
Indicator Settings
- Chart Theme: Chart background color
- 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
The Bollinger Bands MACD indicator has two main lines and a MACD midline.
Traders use the Bollinger Bands indicator to determine entry points for trading, apart from that, they can also make use of Levels Indicators for better analysis.
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