The BB Analyzer V2 Forex indicator for Metatrader 4 transforms price data into a beautifully colored Bollinger Bands indicator with amazing buy & sell trade area’s.
The indicator appears in the main chart window as Bollinger Bands with green & red colored area’s that give you an early indication of a trend reversal.
It’s a versatile indicator that can be used in many different ways.
- Bollinger Bands indicator.
- Identifies trend reversals.
- Can be used for trade entries & exits.
Indicator Example Chart
The AUD/USD 5-minutes chart below shows the BB Analyzer V2 Forex indicator in action.
Basic Trading Signals
Signals from the BB Analyzer V2 Forex indicator for Metatrader 4 are easy to interpret and goes as follows:
- Open a buy position when the green BB Analyzer area appears on the chart.
- Place a stop loss 2-5 pips below the lower Bollinger Band.
- Exit the buy trade for 1.5 risk to reward or better.
- Open a sell position when the red BB Analyzer area appears on the chart.
- Place a stop loss 2-5 pips above the upper Bollinger Band.
- Exit the sell trade for 1.5 risk to reward or better.
Download This Forex Indicator
Adjustable Parameters & Settings
Periods, deviation, method to smooth, periods to smooth, slope, percent, colors, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Supported currency pairs: Any
Trading Platform: Metatrader 4 (MT4)
Time Frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Bollinger Bands
How to install the BB Analyzer V2 Forex indicator in Metatrader 4?
- Copy and paste the bb-analyzer-v2-indicator.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button