The Bollinger Band Forex Analyzer version 2.01 is a great trend-following indicator that works on Bollinger Bands with smoothing filter.
After loading the indicator to the activity chart, this amazing BB Analyzer 2.01 will start analyzing the currency chart.
The indicator is composed of a buy/sell middle line with two outer bands.
Trading with this indicator is utterly simple, even for newbie traders:
- A buy trend occurs when the BB Analyzer 2.01 middle line is colored green.
- A sell trend occurs when the BB Analyzer 2.01 middle line is colored red.
Whenever the trend changes, the Bollinger Band’s middle line color will change as well.
Free Download
Download the “BB_Analyzer_2.01.ex4” indicator for MT4
Indicator Example Chart (EUR/USD H4)
How to trade with it (example)?
A buy signal occurs as soon as the Bollinger Band Analyzer 2.01 starts drawing the green middle line on the chart.
A sell signal occurs as soon as the Bollinger Band Analyzer 2.01 starts drawing the red middle line on the chart.
Exit the open trade whenever the opposite trading signal appears on the chart, or close the position at the outer Bollinger Bands.
Feel free to use your own favorite trading method to open and close trades with the Bollinger Band Forex Analyzer Version 2.01 technical indicator.
Indicator Specifications
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: Periods, deviations, method to smooth, period to smooth, slope detection, bars to calculate slope, color settings & style
Indicator type: Bollinger Bands
Repaint? No.
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Download the “BB_Analyzer_2.01.ex4” indicator for Metatrader 4
Usage:
Works for scalping, day trading and swing trading style.
The Bollinger Band Forex Analyzer Version 2.01 indicator can be categorized as a standalone trading system.
Feel free to combine it with your own trading strategy or system.
Installation:
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the BB_Analyzer_2.01.ex4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.
