Bollinger Heatmap
- Indicators
- Version: 1.0
- Activations: 5
The Bollinger Heatmap is a visual tool designed for traders who want to track Bollinger Band extremes across multiple symbols and timeframes — all in one color-coded dashboard.
This indicator scans up to 10 user-defined currency pairs (or other instruments) across 8 major timeframes (M1, M5, M15, M30, H1, H4, D1 and W1) and displays how far the current price is from the Bollinger Bands’ upper or lower boundaries in pips (1 pip = 10 points).
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🟢 If the price is above the upper band, the pip distance is shown in green.
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🔴 If the price is below the lower band, the pip distance is shown in red.
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🟡 If the price is inside the bands, a neutral “—” (dash) is shown.
This indicator is helpful in identifying volatility breakouts, reversal opportunities, or overbought/oversold extremes in real time — without switching charts.
⭐ Key Features
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🔍 Monitors 10 customizable symbols across 8 timeframes
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🔔 Live dashboard refreshes automatically at your defined interval
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📐 Displays pip distances from Bollinger Band boundaries
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🎨 Color-coded for quick interpretation (Above, Below, Neutral)
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🧩 Compact and configurable layout suitable for all screen sizes
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🛠️ All settings are external inputs – full customization without coding
💡 Why Use It?
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✅ Scan the entire market at a glance instead of switching charts
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✅ Instantly spot volatility expansions and breakout potentials
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✅ Trade in alignment with Bollinger breakout strategies
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✅ Improve timing and symbol selection by watching multiple pairs simultaneously
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✅ Avoid missed opportunities on pairs you're not actively watching
🧭 How to Use
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📥 Add the .ex5 file to your MQL5/Indicators folder.
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🔄 Restart MT5 or right-click the Navigator → Refresh.
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📊 Attach Bollinger Heatmap to any chart (symbol/timeframe doesn’t affect function).
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🛠️ In the Inputs tab:
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Set your preferred symbols, timeframes, and Bollinger settings
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Adjust layout spacing, font size, and color scheme
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⚠️ This is a visual tool — it does not generate BUY/SELL signals or alerts by default.
📘 How to Interpret
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🟢 Breakout Above: Price is above the upper Bollinger Band by displayed amount of pips → signals potential bullish volatility
Use as early indication of overbought/breakout scenarios. -
🔴 Breakout Below: Price is below the lower Bollinger Band by displayed amount of pips → signals potential bearish volatility
Use as early warning of oversold/breakdown conditions. - 🟡 Yellow Dash: Price is within the Bollinger range → No current breakout, neutral zone
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📊 Use contextually: Combine with price action, structure, or volume to confirm entries/exits
Dashboard helps highlight strong breakout conditions at a glance.
⚙️ Input Parameters
📍 Layout Settings
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X_Start: Horizontal starting position of the dashboard on the chart (default: 70)
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Y_Start: Vertical starting position on the chart (default: 70)
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X_LabelOffset: Horizontal offset for aligning symbol and timeframe headers (default: 200)
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X_Spacing: Distance between columns (timeframes) (default: 110)
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Y_Spacing: Distance between rows (symbols) (default: 55)
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Font_Size: Size of text in the dashboard (default: 10)
⏱️ Refresh Setting
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RefreshSeconds: Time in seconds to refresh the dashboard (default: 3)
🎨 Color Settings
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Above_Color: Color when price is above the upper Bollinger Band (default: Lime)
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Below_Color: Color when price is below the lower Bollinger Band (default: Tomato)
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Neutral_Color: Color for values within the bands (default: Yellow)
📈 Bollinger Band Parameters
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BB_Period: Number of periods used in Bollinger Bands (default: 20)
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BB_Dev: Standard deviation multiplier for upper/lower bands (default: 2.0)
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BB_Shift: Shift of the Bollinger Bands (default: 0)
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BB_Price: Price type for Bollinger Band calculation (default: PRICE_CLOSE)
💱 Symbols to Monitor
Define up to 10 custom symbols:
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Symbol1 – Symbol10: Tickers you want to track (e.g., EURUSD, GBPUSD, USDJPY, etc.)
