Forex Bb Pro Analyser Indicator

Forex bb pro analyser indicator

Forex bb pro analyser indicator

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BB Bollinger Bands Forex Indicator

The %BB forex indicator for MetaTrader4 is used to measure the price of an asset relative to the upper and lower Bollinger Band. The %BB has six primary relationship lines:

%BB equals 100 when price is at the upper band

%BB equals 0 when price is at the lower band

%BB is above 100 when price is above the upper band

%BB is below 0 when price is below the lower band

%BB is above 50 when price is above the middle band (20-day SMA)

%BB is below 50 when price is below the middle band (20-day SMA)

Free Download

Download the “cBB.ex4” MT4 indicator

Example Chart

The Bollinger Band that was added to the chart was done to further aid in our illustrations based on the %BB indicator.

How to use forex strategy builder

The %BB indicator can be used to spot overbought and oversold conditions. It is important to look for opportunities in favor of bigger trends i.e.

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pullbacks within a bigger downtrend or uptrend.

It is best to go in search of short-term oversold conditions when the medium trend is bullish and short-term conditions when the medium-term is bearish.

The relationship between price and Bollinger Bands is quantified by the %BB. Values above 100 indicates that price is near the upper band, while %BB values below 0 indicates that price is near the lower ban.

When price drives towards the upper band, it denotes strength, but can also be interpreted a overbought.

Forex bb pro analyser indicator

Dips towards the lower band denotes weakness, but in some cases can be tagged oversold. It is best to the %BB in conjunction with other technical studies.

Download

Download the “cBB.ex4” MT4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart window indicator

Customization options: Variable (Bands_period, Bands_deviation), Colors, width & Style.

Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: momentum oscillator

Forex bb pro analyser indicator