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Bollinger Band Alerts


Bollinger Bands are bands that reflect market volatility
and plot two standard deviations from a simple moving
average. Volatility changes as it rises or falls
standard deviation. The bands widen when volatility increases,
and narrow when volatility decreases.

Knowing that most of the price movement occurs between two
bands, we wait for the price to break through the upper or lower band, and then
try to open a trade in the opposite direction, waiting for the price to
return back to the moving average.

Buy signals-the indicator is waiting for the candle
to go beyond the lower band, falling below it. When the candle closes, an alert will be sent.

Sell Signals-Sell signals occur when the candle rises above the upper band.

The indicator is designed to save you time and notify you of the
occurrence of conditions that are potentially favorable for making a trade.
However, it cannot
make trading decisions for you. You should apply additional analysis methods,
to open the most profitable deals.

The indicator works in the background and draws up
and down arrows on the chart when there is an opportunity to trade. Alerts are also available
, which can be turned on and off in the input
parameters tab.

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  • BBPeriod – The number of bars used in calculations (by default, 20);
  • BBDeviations – The number of standard deviations. Usually
    traders use two deviations, but increasing their number to
    three can give more reliable signals. You can change this value
    to suit your trading style;
  • Send_Email-The indicator will send a notification by e-mail;
  • Audible_Alerts – Standard notifications via the alert window in MetaTrader 4, with sound enabled;
  • Push_Notifications-The indicator will send a
    push notification to your smartphone from the MetaTrader 4 iOS/Android app.


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