The Bollinger Bands Stop V2 indicator for MT4 is a powerful buy and sell signals indicator with stop loss levels based on the Bollinger Bands.
The indicator appears in the main MT4 chart window in the form of colored blue and red signal lines.
The signal lines also provide the suggested stop loss level for both long and short trades.
Key Takeaways:
- A bullish market occurs whenever the blue signal line appears on the chart.
- A bearish market occurs whenever the red signal line appears on the chart.
- Bollinger Bands Stop V2 indicator is always active in the market.
- Based on the Bollinger Bands technical indicator.
Free Download:
Download the “Bollinger Bands_Stop_v2 .ex4” indicator for MT4
Indicator Example Chart (EUR/USD M5)
The example chart below displays the Bollinger Bands Stop V2 indicator in action on the trading chart.
Trading Signals (example):
Buy signal: Initiate a buy trade as soon as the blue Bollinger Bands Stop V2 indicator signal line gets painted on the chart.
Sell signal: Initiate a sell trade as soon as the red Bollinger Bands Stop V2 indicator signal line gets painted on the chart.
Recommended: Place a stop loss below the blue signal line for long trades, or above the red signal line for short trades.
As always, please trade in agreement with the overall trend and practice on a demo account first.
Utilize your own favorite stop loss and take profit method.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Trading signals
Repaint? No.
Download Now:
Download the “Bollinger Bands_Stop_v2 .ex4” indicator for Metatrader 4
Installation:
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the Bollinger Bands_Stop_v2 .ex4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.