Forex Exclusive Bollinger Indicator MT4 has been developed based on the trader’s top popular Bollinger Band indicator. The latest development comes with the application of advanced algorithm.
Forex Exclusive Bollinger Indicator aims to detect overbought and oversold conditions of the market. As price doesn’t move straight forward always, it moves like a wave most of the time. So, if you can correctly determine the high and low of the waves based on overbought and oversold condition of the price, you’ll easily be able to make your way to achieve trading success.
This indicator is specially engineered for scalpers who want to depend on a reliable tool to detect the swinging points at lower time frame. You’ll be able to use its full version on any currency pair across the market.
Forex Exclusive Bollinger Indicator Overview:
After the installation of the indicator at your trading platform, your chart will appear like this:
|Time Frame||Currency Pairs||Indicator Factors||Ratings|
|M15 to H4||Any||3||9.5/10|
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Forex Exclusive Bollinger Indicator Anatomy:
- Upper Band: The top channel of the indicator is known as Upper Band. This band signals the area of overbought market. Usually when price hits this band, traders looks for sell opportunity matching with overbought condition.
- Lower Band: The lowest channel of this indicator is the Lower Band. This band defines the area of oversold market. Typically, when price visits this band, traders looks for buy opportunity according to the oversold condition of the price.
- Middle band: The channel between Upper and Lower Band is called the Middle band. It directs the momentum or trend direction. It is also known as the engine of the indicator.
Forex Exclusive Bollinger Indicator: Buy Parameters
Exclusive Bollinger Indicator Buy Parameters
- Price reaches to the Lower Band and uses the level as support
- Buy triggers when price starts to move upwards from the respective level
- Stop loss limit below the respective signaling bar’s low or below the Lower Band
- Take profit whenever price gets rejection from Upper Band
Forex Exclusive Bollinger Indicator: Sell Parameters
- Price reaches to the Upper Band and uses the level as resistance
- Sell triggers when price starts to move downwards from the respective level
- Stop loss limit above the respective signaling bar’s high or above the Upper Band
- Take profit whenever price gets rejection from Lower Band