Free Forex Indicators (MT4), Trend Following Indicators

BB Analyzer V2 Indicator

The BB Analyzer V2 Indicator is an advanced Bollinger Band trading tool developed for MT4 platforms. It applies colored bands and bars to create a lucid demonstration of momentum signals for beginners.

This guide explains how to apply the Indicator in Metatrader 4 for successfully trading forex, stocks, and other financial instruments.

BB Analyzer V2 Indicator Overview

BB Analyzer V2 Indicator overview

BB Analyzer V2 Indicator suits multi-timeframe MTF chart analysis. So you can try it for both long-term and short-term trading simultaneously.

Moreover, its innovative display of showing the overbought/oversold and trend conditions makes this indicator a handy tool for trend-following traders.

BB Analyzer V2 Indicator Explained

The indicator applies four types of colored bars creating an authentic display of market trend conditions.

Its mid-line also changes color to signal the possible reversal positions of the price.

BB Analyzer V2 Indicator explained

The maroon bars signal a sidelined market condition. They turn orange to signal the initial stage of a bullish trend. The bars transform from orange to blue indicates a strong bullish trend.

Conversely, the indicator color becomes red, signaling a fresh bearish trend. Also, the color changes into dark green to express an intense downtrend situation of the market.

Moreover, the indicator also uses its midline to signal the trend reversals by changing its colors. A red mid-line indicates a bearish trend. Oppositely, a red line represents a bearish price reversal signal.

BB Analyzer V2 Indicator: Buy Conditions

BB Analyzer V2 Indicator buy signal
  • The price rebounds from the lowe BB band
  • The indicator bars turn orange
  • SL below the midline
  • Exit buy when the bar turns into maroon color

Also Read: Exness Review – Is it The Best Forex Broker?

BB Analyzer V2 Indicator: Sell Conditions

BB Analyzer V2 Indicator sell signal
  • The price bounces back to the south from the higher BB band
  • The indicator bars turn red
  • SL above the midline
  • Exit sell whenever the bar turns into maroon color
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I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

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About Trend Following System

Trend Following System's goal is to share as many Forex trading systems, strategies as possible to the retail traders so that you can make real money.

Risk Warning: Trading in the forex market is very risky. Thus, it is may not be for everyone. A highly leveraged position can work against the trader when the trade does not work as expected. Trading in the forex market can cause to lose a significant portion of the capital or all of the capital. It is crucial to learn about the trading and gain enough experience in the demo account before trading with real money. The trading strategies published on this website do not guarantee profit as the market is dynamic and unpredictable. The past performance of a strategy is not the indicative of future performance. Trend Following System will not accept any kind of liability or damage caused by trading the strategies published on this website.