BollingerBands© - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources
The Bollinger Bands © indicator is a derivative of the standard Bollinger Bands indicator. When the indicator spikes, you should wait for a reversal.
Indicator calculation formula: BollingerBands [bar]=(close[bar]-UpperBB[bar])/(LowerBB[bar]-UpperBB[bar]).
Figure 1 Bollinger Band © indicator
Attachment download
📎bollingerbands3b.mq5 (6.64 KB)
Source: MQL5 #1511
BollingerBands© - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
BollingerBands© - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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