bollinger bands with pre outer band smoothing
Info
The bollinger bands with pre outer band smoothing is a Indicator for MetaTrader 5 that the premise of this bollinger bands indicator is that the outer bands can be individually controlled via smoothing. changing the smoothing period on the upper band does not have to reflect any change on the lower band, and likewise changing the smoothing period on lower band does not have to reflect any change on the upper band.
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 pre outer band smoothing
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
the premise of this bollinger bands indicator is that the outer bands can be individually controlled via smoothing.
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.
the premise of this bollinger bands indicator is that the outer bands can be individually controlled via smoothing. changing the smoothing period on the upper band does not have to reflect any change on the lower band, and likewise changing the smoothing period on lower band does not have to reflect any change on the upper band. the idea is to give you ultimate control of smoothing the outer bands.
Also recommended: B Bands Psar Indicator - similar indicator with strong performance on MetaTrader 5.
the pre smoothed bb makes the standard deviation on separate mas (and it's based on the original bb calculation)."additive outer band smoothing" when set to true means that the smoothing period is added to the bollinger bands period that is set. when set to false, it uses its own period which is not related to the period value of the middle line.
the pre band smoothing is quite simple, it is just adding an extra ma period on an outer band in the bollinger bands. it is your stereotypical bollinger bands but with added control.
You may also like: bollinger bands 3 sigma - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property description "Educational code - RobotFX www.robotfx.org"
#property version "1.00"
#property indicator_chart_window
#property indicator_buffers 6
#property indicator_plots 3
#property indicator_label1 "Bands upper"
#property indicator_type1 DRAW_LINE
#property indicator_color1 clrSilver.......
⚠ 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.