How Do You Use Bollinger Bandwidth MT5 Technical Indicator?
Bollinger Bandwidth Indicator Analysis Buy and Sell Signals
Created by John Bollinger.
Bollinger Bandwidth is derived from the original Bollinger Bands indicator.
Bandwidth is a measure of the width of the Bollinger Bands
Calculation of Bollinger Band-width Indicator
Bandwidth = Upper Band - Lower Band
Middle Band
How to Add Meta Trader 5 Bollinger Bandwidth Indicator in MT5 Charts
Bollinger Bandwidth indicator is an oscillator that is based on the theory that price & volatility occurs in cycles.
Periods of high price volatility are followed by periods of low price volatility.
When price volatility is high - Bollinger Bands are far apart, the Bollinger Band-width indicator will also be wide apart.
When price volatility is low - Bollinger Bands are narrow and the Bollinger Bandwidth indicator will also not be narrow.
The Bollinger Bandwidth blue line represents the highest Bandwidth value for a previous number of price periods.
This Bollinger Bandwidth indicator blue line also identifies periods of high price volatility
The Bollinger Bandwidth red line represents the lowest Bandwidth value for a previous number of price periods.
This Bollinger Bandwidth indicator red line also identifies periods of low price volatility
How to Generate Buy & Sell Signals
Forex Price Consolidation
Bollinger Band-width indicator is used to identify the Bollinger Bands squeeze, which is a period of price consolidation - after which there is a price break out in a particular direction.
Bollinger Bandwidth indicator signals are generated when there is a price breakout signal - which is generated by the Bollinger Bandwidth indicator starting to go up after touching the red line. When the Bollinger Bandwidth line starts to move up it signifies that forex volatility is rising as the price is breaking out.
Bollinger Bandwidth Indicator Squeeze
However, Bollinger Bandwidth indicator is a directionless indicator and thus it needs to be combined with another indicator such as the moving average to determine the direction of the trend/ forex price breakout.
How to Add MT5 Bollinger Bandwidth Indicator in MT5 Charts
Step 1: Open MT5 Navigator Panel
Open MT5 Navigator panel as illustrated below: Go to 'View' menu (click), then select 'Navigator' panel (click), or From Standard Tool Bar click 'Navigator' button or press keyboard MetaTrader 5 short-cut keys 'Ctrl+N'
On MetaTrader 5 Navigator window, choose "Indicators", by DoubleClick
How Do I Use MetaTrader 5 Bollinger Band-width Indicator?
How to Add Bollinger Bandwidth MT5 Indicator
Expand the menu by clicking the expand button (+) or double click the 'indicators' menu, after this the button will then appear as (-) & will now display a list of MT5 indicators as shown below - choose the Bollinger Bandwidth indicator from this list of MT5 indicators so that you can add the Bollinger Bandwidth MT5 technical indicator in the MT5 forex chart.
How Do You Use MT5 Bollinger Bandwidth Indicator?
How to Install and Place Custom Bollinger Bandwidth Indicator MetaTrader 5
If the MT5 indicator that you want to add on the MT5 charts is a custom MT5 indicator - for example if the Bollinger Bandwidth indicator that you want to add is a custom MT5 indicator you will need to first add this custom Bollinger Bandwidth MT5 technical indicator in the MT5 platform and then compile this custom Bollinger Bandwidth indicator so that this newly added Bollinger Bandwidth MT5 forex custom indicator appears on the custom indicators list in the MT5 platform.
To learn how to add Bollinger Bandwidth indicators in MetaTrader 5 - how do you add Bollinger Bandwidth indicator window to MT5 platform? - how do you add Bollinger Bandwidth custom indicator on MT5? - How to add a custom Bollinger Bandwidth custom indicator on MetaTrader 5.
How Do You Use MT5 Bollinger Bandwidth Indicator?
