The Bollinger Band Stops with Hull Moving Average indicator for Metatrader 5 delivers buy & sell trading signals for any currency pair.
It’s based on the Hull moving average and Bollinger bands.
The indicator pops-up in the main chart as 3 colored lines that deliver the actual trading signals.
It’s really easy to make informed buy and sell trading decisions.
How to determine bullish and bearish market sentiment with this technical tool?
- A bullish trend occurs when the 3 blue lines appear below the candlesticks.
- A bearish trend occurs when the 3 brown lines appear above the candlesticks.
The indicator has the following inputs and parameters: hull period, hull speed, price, deviation multiplier, risk multiplier, others.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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The following chart shows how the Bollinger Band Stops with Hull Moving Average Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Bollinger Band Stops With Hull Moving Average Indicator?
Find a simple trading example below:
- A buy signal is given when the 3 blue lines appear below the candlesticks.
- Open a buy order and place your stop loss slightly below the lower blue line.
- Close the long trade for a reward to risk ratio of at least 1.5, or wait for a sell signal.
- A sell signal is given when the 3 brown lines appear above the candlesticks.
- Open a sell order and place your stop loss slightly above the upper brown line.
- Close the short trade for a reward to risk ratio of at least 1.5, or wait for a buy signal.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the BB stops 2 – Hull.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration