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STARC Bands Metatrader 5 Forex Indicator

    By definition STARC is short for Stoller Average Range Channels and represents a technical tool that displays three lines which forms a channel around a typical moving average.

    The three lines are as follows:

    • An n-period Simple Moving Average
    • An upper band, which is the n-period SMA plus an m-period Average True Range (ATR) multiplied by a constant K
    • A lower band, which is the n-period SMA minus an m-period ATR multiplied by a constant K

    The STARC Bands Metatrader 5 forex indicator was developed by Manning Stoller as a means of gauging lower and upper limits for normal price action.

    Currency traders often look at this indicator in a bid to get a peep at risk level prior to market entry.

    Free Download

    Download the “STARC_bands.ex5” MT5 indicator

    Example Chart

    The GBP/USD H1 chart below displays the STARC Bands Metatrader 5 forex indicator in action.

    Basic Trading Signals

    Buy Signal: Go long when price opens and closes above the middle dotted line of the STARC Bands forex indicator.

    Sell Signal: Go short when price open and closes below the middle dotted line of the STARC Bands forex indicator.

    Exit buy trade: Close all buy orders if while a bullish trend is ongoing, price closes below the middle dotted line of the STARC bands MT5 forex indicator.

    Exit sell trade: Close all sell orders if while a bearish trend is ongoing, price closes above the middle dotted line of the STARC bands MT5 forex indicator.

    Tips: Reversal points can be determined when traders deploy the STARC Bands technical indicator, in line with price action around the upper and lower bands.

    Download

    Download the “STARC_bands.ex5” Metatrader 5 indicator

    MT5 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 5

    Type: chart pattern indicator

    Customization options: Variable (Time frame, STARC main period, STARC average type, Price, ATR period, ATR multiplier 1, ATR multiplier 2, ATR averaging type, Interpolate mtf data?), Colors, width & Style.

    Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

    Type: trend | stop limits

    Installation

    Copy and paste the STARC_bands.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.

    You can access this folder from the top menu as follows:

    File > Open Data Folder > MQL5 > Indicators (paste here)