asymmetric bands
Info
The asymmetric bands is a Indicator for MetaTrader 5 that there are a lot of bands type indicators and almost all are working in a very similar way: some basic value is taken to be a central value and the bands are drawn on equal distances up and down. that encloses the prices very well, but usually causes a lag when there is a trend reversal (since the opposite side band is too far from the current price).
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use asymmetric bands
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
there are a lot of bands type indicators and almost all are working in a very similar way: some basic value is taken to be a central value and the bands are drawn on equal distances up and down.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Bands Stoch RSI Extreme Reversal Signals - another powerful indicator for MetaTrader 5 traders.
there are a lot of bands type indicators and almost all are working in a very similar way: some basic value is taken to be a central value and the bands are drawn on equal distances up and down. that encloses the prices very well, but usually causes a lag when there is a trend reversal (since the opposite side band is too far from the current price).
Also recommended: B Bands Psar Indicator - similar indicator with strong performance on MetaTrader 5.
this indicator is one of the ways to avoid that. instead of using equidistant bands, the bands are asymmetric.when the price is above the average, then the lower band is narrowed. also, when the price is bellow the average the upper band is narrowed. that makes the "opposite side" band much closer after some time to the average and it makes the signals on bands breaking faster and sooner than any "regular" bands indicator.
You may also like: bollinger bands 3 sigma - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.