Best Bollinger Bands for 1H Chart, H4 Chart and Daily Chart
How to Add Bollinger Bands Indicators in Meta Trader 4 Charts - Adding MT4 Bollinger Bands
Step 1: Open Navigator Window on Software
Open Navigator panel as shown and illustrated below: Go to 'View' menu (click on it), then choose 'Navigator' panel (click), or From Standard Tool-Bar click the 'Navigator' button or press keyboard shortcut keys 'Ctrl+N'
On Navigator panel, choose 'Indicators', (DoubleClick)
Best Bollinger Bands for 1H Chart and 4 Hour Chart and Daily Chart
Step 2: Expand Indicators Menu on the Navigator - Adding Bollinger Bands MT4 Indicator
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 indicators so that to add the Bollinger Bands indicator on the chart.
Best Bollinger Bands for H1 Chart and H4 Chart and Daily Chart
How to Add Custom Bollinger Bands Indicator to MT4
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 indicator on MetaTrader 4 platform & then compile custom Bollinger Bands indicator so that the newly added Bollinger Bands custom indicator pops up on the list of custom technical indicators in Meta Trader 4.
To learn how to install Bollinger Band indicator on MetaTrader 4, how to add Bollinger Bands indicator window to MetaTrader 4 and how to add Bollinger Band custom indicator on MetaTrader 4 - How to add a custom Bollinger Band Indicator in MetaTrader 4.
About Bollinger Bands Indicator Explained
Bollinger Bands Analysis & Bollinger Bands Signals
Bollinger Band are made up of 3 lines. The middle line is a MA - 20 price period Simple MA.
Bollinger bands indicators are then plotted at a distance away from the moving average indicator. These are bands which form the lower & upper lines.
The distance where the bands are plotted is decided by another technical indicator called the standard deviation. Standard deviation is a gauge of price volatility in the market.
Since the price volatility keeps changing, the standard deviation will keep fluctuating, & since Bollinger bands are drawn using the standard deviation the distance of the Bollinger bands will keep on adjusting themselves to the market volatility.
When the price becomes more volatile, the Bollinger Band widen - Bollinger Bands indicators contract during less volatile periods.
The 3 Bollinger Band are designed so as to encompass the majority of a price action movement. The mid Bollinger Bands forms basis for the trend, typically a 20 price period simple MA.
This middle Bollinger Bands also serves as the base for the upper & lower Bollinger Band. The upper Bollinger band's & lower Bollinger band's distance from the mid Bollinger band is determined by price volatility. The upper band is plotted +2 standard deviations above the middle-band while the lower band is plotted -2 standard deviations below the middle-band.
Best Bollinger Bands for H1 Chart and H4 Chart and Daily Chart
Bollinger Bands Analysis & Generating Bollinger Bands Signals
- Bollinger Band provide a relative definition of high and low of price
- Bollinger Band are used to spot periods of high & low volatility
- Bollinger Band are used to spot periods when the prices are at extreme areas
Bollinger Bands Consolidation Pattern - the Bollinger Bands Squeeze Setup
Bollinger Band tighten as volatility lessens, this identifies the periods of price consolidation. Sharp price breakouts tend to occur after the Bollinger Bands indicators tighten.
Best Bollinger Band for 15 Minute Chart, 5 Minute Chart and 1 Minute Chart
Bollinger Bands Continuation Signal - the Bollinger Band Bulge Setup
If prices break through upper or lower Bollinger Bands indicator & move outside the Bollinger Bands a continuation of the current trend is expected.
Best Bollinger Band for 15 Minute Chart, 5 Minute Chart & 1 Minute Chart
Bollinger Bands Reversal Signals - Bollinger Bands Double Top and Double Bottoms Chart Patterns
Bottoms & tops made outside the Bollinger Band followed by bottoms & tops made inside the Bollinger Band signals for reversals in the market trend
The Bollinger Bands FX Head Fake - Bollinger Bands FX Whipsaw
Traders should be on the lookout for false breakouts known as Bollinger Band fake outs or Bollinger Band head fakes.
Best Bollinger Band for 15 Minute Chart, 5 Minute Chart and 1 Minute Chart
Price often breaksout in one particular direction immediately following the Bollinger Bands Squeeze causing many traders to think the price break out will continue in that particular direction, only for price to quickly reverse and make the true & more significant price breakout in opposite direction.
Traders acting quickly on the initial price break out often get caught on the wrong side of the price action - while those traders expecting a "false break out" can quickly closeout their original trade positions & enter a trade in direction of price reversal. It's always good to combine Bollinger bands indicator with other confirmation technical indicators.
Best Bollinger Bands for 1 Hour Chart - Best Bollinger Bands for H4 Chart - Best Bollinger Bands for Daily Chart