Best Bollinger Bands Setting for H4 Gold Chart

How to Add Bollinger Bands Gold Indicators in MT4 Gold Charts

Step 1: Open MT4 Software Navigator Window Panel

Open the MetaTrader 4 Navigator window as shown below: Navigate to 'View' menu (click) & then select 'Navigator' window (click), or From the Standard Tool Bar click the 'Navigator' button key or use short cut keyboard keys 'Ctrl+N'

On MT4 Navigator panel, select "Technical Indicators", (DoubleClick)

Best Bollinger Bands Setting for 1 Hour Gold Chart - Best Bollinger Bands Setting for 4 Hour XAUUSD Chart

Step 2: Expand the XAUUSD Indicators Menu on the Navigator

Expand the menu by clicking the expand button marker (+) or double click the 'indicators' menu, after this the button will appear as (-) and will now display a list as shown below - select the Bollinger Bands indicator from this list of xauusd indicators so as to add the Bollinger Bands technical indicator on the gold chart.

Best Bollinger Bands Setting for 1 Hour Gold Chart - Best Bollinger Bands Setting for 4 Hour XAUUSD Chart

How to Add Custom Bollinger Band XAUUSD Indicators to MetaTrader 4

If the technical indicator you want to add is a custom Bollinger Bands indicator - for example if the Bollinger Bands technical indicator you want to add is a custom indicator you will need to first add this custom Bollinger Bands technical indicator on the MetaTrader 4 software and then compile custom Bollinger Bands indicator so that the newly added Bollinger Bands custom xauusd indicator appears on the listing of custom xauusd indicators on the MetaTrader 4 software.

To learn how to install Bollinger Bands technical indicator on MetaTrader 4, how to add Bollinger Bands indicator panel to MetaTrader 4 & how to add Bollinger Bands xauusd custom MT4 indicator in MT4 - How to add a custom Bollinger Bands xauusd Indicator in MetaTrader 4.

Bollinger Bands XAUUSD Trading Indicator Described

XAUUSD Trading Bollinger Band Technical Analysis & Bollinger Bands Trading Signals

Bollinger bands are made up of three lines. Middle line is a Moving Average - 20 gold price period Simple Moving Average.

The Bollinger bands trading indicators are then drawn at a distance away from the moving average technical indicator. These are the bands that form the lower & upper lines.

The distance where the bands are drawn is decided by another indicator called the standard deviations. Standard deviation is a measure of gold price volatility in the gold trading market.

Since the gold price volatility keeps on changing, the standard deviations will keep varying, and since Bollinger bands are drawn using the standard deviations the distance of the Bollinger bands will keep on adjusting themselves to the xauusd market volatility.

When the gold price becomes more volatile, the Bollinger Bands indicators widen - Bollinger Bands contract during the less volatile periods.

The 3 Bollinger Bands are designed to encompass the majority of a gold price action movement. Middle Bollinger Band forms the basis for the gold price trend, typically a 20 gold price period simple moving average.

This middle Bollinger Band also serves as the base for the upper and lower Bollinger Bands. The upper Bollinger band's and lower Bollinger band's distance from the middle Bollinger band is determined by gold market price volatility. The upper band of this indicator is drawn at +2 standard deviations above the middle Bollinger Band while the lower band is drawn at -2 standard deviations below the middle Bollinger Band.

Best Bollinger Bands Setting for 1 Hour Gold Chart - Best Bollinger Bands Setting for 4 Hour XAUUSD Chart

XAUUSD Trading Bollinger Band Technical Analysis and How to Generate Gold Trading Bollinger Band Signals

• Bollinger Bands provide a relative definition of high & low of gold price

• Bollinger Bands are used to identify periods of high and low volatility

• Bollinger Bands are used to identify periods when prices are at extreme areas

the Bollinger Band Squeeze

Bollinger Bands tighten as volatility lessens, this identifies periods of gold price consolidation. Sharp gold price breakouts tend to occur after the Bollinger Bands indicators tighten.

Best Bollinger Bands Settings for XAUUSD Swing Trading - Best Bollinger Bands Settings for Scalping XAUUSD

the Bollinger Bands Bulge

If gold prices break through upper or lower Bollinger Band technical indicator & move outside the Bollinger Band a continuation of the current gold price trend is expected.

Best Bollinger Bands Settings for XAUUSD Swing Trading - Best Bollinger Bands Settings for Scalping XAUUSD

Bollinger Bands Reversal Gold Signals

Bottoms and tops made outside the Bollinger Bands followed by bottoms & tops made inside the Bollinger Bands signals for xauusd trading reversals in the gold price trend

Bollinger Bands Whipsaw

Traders should be on lookout for false breakouts known as Bollinger Bands whipsaws or Bollinger Bands head fakes.

Best Bollinger Bands Settings for XAUUSD Swing Trading - Best Bollinger Bands Settings for Scalping XAUUSD

XAUUSD Price often breaks out in one direction immediately following the Bollinger Bands Squeeze causing many traders to think the gold price breakout will continue in that direction, only for gold price to quickly reverse and make the true and more significant gold price breakout in the opposite direction.

Traders acting quickly on the initial gold price breakout often get caught on the wrong side of the gold price action - while those traders expecting a "false break-out" can quickly close-out their original xauusd trade positions and enter a trade in the direction of the gold price reversal. It is always good to combine Bollinger bands technical indicator with other confirmation gold technical indicators.

Best Bollinger Bands Setting for 1 Hour Gold Chart - Best Bollinger Bands Setting for 4 Hour Gold Chart - Best Bollinger Bands Settings for Gold Day Trading - Best Bollinger Bands Settings for XAUUSD Swing Trading - Best Bollinger Bands Settings for Scalping XAUUSD