wd.Range_BB - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

The MT5 custom indicator named "wd.Range_BB" is designed to display Bollinger Bands with custom colors and line styles on the chart and calculate the range bandwidth. The range bandwidth is the spread between the upper and lower Bollinger Bands.

The indicator works as follows:

Bollinger Bands Settings:

These parameters allow users to customize the appearance and behavior of Bollinger Bands. Users can adjust the Bollinger Bands' period, offset, deviation and applied price, as well as visual aspects such as color and line style.

Place the "Range/Bandwidth Information" label in the specified subwindow:

The subwindow input parameter specifies the subwindow number where the label needs to be placed.

UpperBB-LowerBB distance information can be placed in the main chart or subwindow. The user can also adjust the label distance (X and Y position).

To place labels in the main chart, simply enter "0" in the "Subwindow Placement" property.

To place them in the subwindow below, enter "1 or 2 or 3, etc." User needs to attach indicator "wd.Multi_SubWindow" {Append wd.Multi_SubWindow.mq5} .

Overall, the "wd.Range_BB" indicator shows the range bandwidth in the label and Bollinger Bands are drawn on the main chart. This indicator helps users visualize the flexibility and volatility of the market based on the width of the Bollinger Bands.

Attachment download

📎 wd.range_bb.mq5 (13.21 KB)

📎 wd.multi_subwindow.mq5 (3.46 KB)

Source: MQL5 #48013