The Stochastic on Bollinger Bands indicator for Metatrader 4 is an overbought/oversold trend indicator and it can be used for trade entry and exit.
The indicator appears as Bollinger Bands with the RSI signal line plotted onto it in bottom chart of the trading platform.
The indicator is very reliable, lightweight, and will not slow down your trading platform.
This indicator type works very well for identifying short-term trade opportunities (scalping, day trading).
Buy & Sell Trade Example
- Open a buy trade when the yellow RSI signal line crosses back above the lower Bollinger band from below and the overall market trend is up.
- Open a sell trade when the yellow RSI signal line crosses back below the upper Bollinger band from above and the overall market trend is down.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “Stochastic bollinger bands.mq4” indicator for MT4
Indicator Chart (EUR/USD H4)
The picture below shows the Stochastic on Bollinger Bands mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method while trading with the Stochastic on Bollinger Bands Forex indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Stochastic
Does the indicator repaint? No.
Download Now
Download the “Stochastic bollinger bands.mq4” indicator for Metatrader 4
