Up to Bollinger Bands - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
Bollinger Bands is one of the famous indicators. But the meaning of the 3 lines can sometimes be confusing and prevent appropriate action from being taken in time. So, this is a modified version of Bollinger Bands. You'll get a single line here.
The method of use is very simple. Buy when price closes above the red line and you see the blue line. Sell when price closes below the blue line and you see the red line. The example images below are self-explanatory. This chart is the latest EURUSD currency pair on the H4 timeframe. You can easily spot the beginning of a bull market and the beginning of a bear market phase.
In the end, I modified the code quite a bit. It was originally developed by TrendLaboratory. Therefore, basic coding credit goes to them.
suggestion:
More examples can be found at http://www.DodaCharts.com
Attachment download
📎 Doda-BBands.mq4 (6.75 KB)
Source: MQL5 #10104
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