IncBandsOnArray - MetaTrader 5 Library | Forex Indicators Download - MT4/MT5 Resources

CBandsOnArray is used to calculate Bollinger Bands® (BB) on an indicator buffer.

This initialize() indicator function calls the OnInit() method with the following parameters:

This solve() function calls the OnCalculate() method with the following parameters:

Additional methods:

Test_BandsOnArrayArray.mq5 is an indicator demonstrating how to use this class. IncBandsOnArray must be located in the MQL5\Include\IncOnArray directory of the terminal data folder (IncOnArray must be created). CMAOnArray class IncMAOnArray files are required for this class to work.

Bollinger Bands® Technical indicators (BB) are similar to envelopes . The only difference is that the envelope bands are drawn at a fixed distance (%). A moving average , while Bollinger Bands plots a certain amount of standard deviation from it. Standard deviation is a measure of volatility, so Bollinger Bands adjust themselves based on market conditions. When markets become more volatile, ranges widen and contract during less volatile periods.

Attachment download

📎 incbandsonarray.mqh (2.83 KB)

📎 incmaonarray.mqh (5.28 KB)

📎 test_bandsonarray.mq5 (3.11 KB)

Source: MQL5 #639