How to set Bollinger Bands in mt4 chart

The Bollinger Bands indicator was invented by John Bollinger in the s. The Bollinger Bands consist of a Moving Average, an Upper and a Lower Band and is included in Metatrader 4 and 5. The default settings are 20 for the period and 2 for the deviation.

You can change the color and width of Bollinger Bands indicator. Is it possible to set an entry a number of pips outside the BB?

About the Bollinger Bands

Bollinger Bands Indicator: Developed by John Bollinger, the Bollinger Bands look quite similar to the moving average Envelopes major difference being that Bollinger Bands upper and lower bands change based on volatility, whereas the moving average envelope’s upper and lower bands are at fixed levels.

When the bands are within a range, then it indicates less volatile. When the bands are widen, then it indicates the volatility of the market price. Usually 20 simple moving average is used on Bollinger Bands. In this tutorial, you will learn: How to set Bollinger Bands indicator First open your chart. You will see Bollinger Bands indicator. How to customize its parameter You will get new window to customize the parameters of Bollinger Bands indicator.

Here 20 SMA is used. You can change the color and width of Bollinger Bands indicator. Here red color is used on this indicator. You can put 0 value on level. You can add another Bollinger Bands on same chart. You have to follow above process of adding this indicator. How to remove Bollinger Bands from chart You can remove different bands separately from your chart. No, the basic and pro versions do only open one trade per chart. But it is possible to attach the EA multiple times to the same symbol using different settings and magicNumber.

What I need is the EA open 1 position for each signal without closing the last positions when I am in negatif. See the functions glossary. Hello, I bought Bollinger Bands EA pro but does not have the Martingale function opens a single order, how can I set it to open more orders in increasing batch: The martingale function does not open multiple trades, it only increases or decreases the next trades.

Please read more about it here. Does this ea simultaneously open but and sell trade, like if sell trade was opened but not reached its TP, and then buy signal appears, will ea take a buy trade without closing sell trade? Is it possible to set an entry a number of pips outside the BB?

I would like to enter the trade when price is 12pips outside the band. Would I be able to do that with your EA? I already buy your pro version, I need to know how your martingale works, how to set up the martingale value, if we set the initial lots 0,02 with take profit pips, stop loss pips. You will find all you need here: Its not because of the cent account. Its because my EA do automatically calculate if you use a 4 or 5 digits broker.

On a 4 digits symbol 1 pips is 0. Your email address will not be published. This site uses Akismet to reduce spam. Learn how your comment data is processed. Get the Bollinger Bands EA! Purchase Checkout Added to cart.

Close on middle Band: The trade will be closed if the middle Bollinger Band gets crossed. Close on opposite Band: Note that this Metatrader Expert Advisor does not draw any indicator on the chart. You do not understand all the functions? Take a look at our function glossary.