Bollinger Bands with Filling and Deviation Types
Info
The Bollinger Bands with Filling and Deviation Types is a Indicator for MetaTrader 5 that this indicator offers bollinger bands with a unique feature: the ability to choose between two deviation types. While the difference may seem minor, it provides valuable flexibility in analyzing market trends.
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 Bollinger Bands with Filling and Deviation Types
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
This indicator offers Bollinger Bands with a unique feature: the ability to choose between two deviation types.
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: Session TWAP: Time-Weighted Average Price with Deviation Bands - another powerful indicator for MetaTrader 5 traders.
This indicator offers Bollinger Bands with a unique feature: the ability to choose between two deviation types.Also recommended: GDS Renko Canvas with Bollinger Bands - similar indicator with strong performance on MetaTrader 5.
While the difference may seem minor, it provides valuable flexibility in analyzing market trends. Additionally, the indicator includes a comprehensive set of 22 price types, enhancing its versatility.
Source Code
#property link "https://robotfx.org"
#property copyright "robotfx"
#property indicator_chart_window
#property indicator_buffers 9
#property indicator_plots 5
#property indicator_label1 "upper filling"
#property indicator_type1 draw_filling
#property indicator_color1 c'207,243,207'
#property indicator_label2 "lower filling"
#property indicator_type2 draw_filling.......
⚠ 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.