BOBB - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources

My aim is to write an indicator that shows Bollinger Bands® breakouts and band widths. So there was v1. The orange line shows the width.

If the blue line crosses the zero line to the top, it breaks to the top, and if the red line crosses the zero line to the top, it breaks to the bottom.

I liked the signal produced by two lines crossing, so I decided to make a v2 with the difference of the two lines and added an MA.

When I finished coding, I realized that the blue line only showed the difference between price and the MA20, but as you can see, whether the trade crossed the zero line or the MA, it showed a pretty good signal, and there was useful divergence as well.

Attachment download

📎BOBB_V1.mq4 (1.55 KB)

📎BOBB_V2.mq4 (1.61 KB)

Source: MQL5 #10343