DB B
Info
The DB B is a Indicator for MetaTrader 5 that oscillator dbb displays as two lines the chart of the price distance from the lines of indicator bollinger bands. Two display options are possible:In percents; In price points.
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 DB B
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
Oscillator DBB displays as two lines the chart of the price distance from the lines of indicator Bollinger Bands.
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: Price Channel Indicator - another powerful indicator for MetaTrader 5 traders.
Oscillator DBB displays as two lines the chart of the price distance from the lines of indicator Bollinger Bands.
Also recommended: Multi-Timeframe Moving Average Indicator (v03) - similar indicator with strong performance on MetaTrader 5.
Two display options are possible:In percents;
In price points.
The indicator has four configured parameters:
BB Period
- Bollinger Bands calculation period;
BB Deviation
- Bollinger Bands deviation;
Applied price
- the calculation price;
Display mode
- display mode:
Percentage
- in percents;
Price points
- in price points.
Fig 1. Displaying in percents
Fig. 2. Displaying in price points
You may also like: Multi-Timeframe Relative Strength Index (MTF RSI) Indicator for MT4/MT5 - excellent alternative for indicator users on MetaTrader 5.
⚠ 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.