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