The Triple Bollinger Bands indicator for Metatrader 5 might give you an early indication when it’s time to open a long or short trade.
It consists of three upper bands and three lower bands, which can function as potential resistance and support levels.
To identify bullish and bearish market trends using this indicator:
- Upward sloping triple Bollinger Bands indicate a bullish market trend.
- Downward sloping triple Bollinger Bands indicate a bearish market trend.
The indicator offers various inputs and parameters, such as time frame, period, MA shift, deviation, price, and colors.
Prior to deploying the Triple Bollinger Bands indicator in real trading, it is advised to demo trade with it until you fully understand how it works.
It supports all time frames and Forex pairs.
Free Download
TripleBolling_Modified.mq5 Indicator (MT5)
Trading Chart Example
The image below displays what the Triple Bollinger Bands indicator looks like when applied to the MT5 chart.
How To Buy And Sell With The Triple Bollinger Bands Indicator?
Find a simple trading example below:
Buy Signal
- The triple Bollinger Bands should show a positive slope, indicating a bullish trend.
- Initiate a buy order as soon as the candlestick touches the lower red Bollinger band.
- Exit the buy trade when the candlestick reaches the upper red Bollinger band.
Sell Signal
- The triple Bollinger Bands should show a negative slope, indicating a bearish trend.
- Initiate a sell order as soon as the candlestick touches the upper red Bollinger band.
- Exit the sell trade when the candlestick reaches the lower red Bollinger band.
