BB Outside Candle Alert
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use BB Outside Candle Alert
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.
Description & Settings
Bollinger Bands Outside Candle Alert signal indicator displays the price breaking through Bollinger Bands, places signal labels, paints a signal candle and activates a signal message.
It has six input parameters:
BB period
- Bollinger Bands calculation period
BB deviation
- Bollinger Bands deviation value
BB line breakdown method
Opening inside, then closing outside
- a signal candle is opened inside Bollinger Bands and closes outside
Opening and closing outside
- a signal candle is opened and closed outside Bollinger Bands
Show bands
- display Bollinger Bands (Yes/No)
Show signal candles
(Yes/No)
Use alerts
- display signal messages (Yes/No)
If the "Show signal candles" is set to Yes, the candle that broke through Bollinger Bands is colored:
Bullish candle - green
Bearish candle - orange
