Fibonacci Bollinger Bands indicator for MT5
- Indicators
- Mohammad Taher Halimi Tabrizi
- Version: 1.0
- Activations: 5
Fibonacci Bollinger Bands Indicator for MT5
The Fibonacci Bollinger Bands Indicator for MetaTrader 5 (MT5) is a powerful trading tool that combines the strength of Bollinger Bands with Fibonacci retracement levels. Since price often reacts strongly to Fibonacci levels, this indicator helps traders identify high-probability reversal zones and breakout opportunities.
Key Features & Inputs
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Bollinger Bands Length – customizable parameter for band calculation.
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Price Mode Selection – choose from Close, Open, High, or Low prices.
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Band Multiplier – adjust the distance between bands for market conditions.
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Six Fibonacci Levels – fine-tuned parameters to set custom Fibonacci zones.
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Backtesting & Alerts – integrated parameters for tester optimization, notifications, and push alerts to your mobile device.
How It Works
The indicator calculates six Fibonacci-based Bollinger Bands. When the price breaks above the highest band or below the lowest band, it generates buy or sell signals, giving traders reliable entry points for both trend continuation and reversal setups.
Benefits of the Indicator
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Accurate Reversal Zones – combines Fibonacci and volatility analysis for precise signals.
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Versatile for All Timeframes – works effectively on scalping, day trading, and swing trading.
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Improved Risk Management – identifies key support and resistance levels to optimize stop loss and take profit placement.
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Customizable Settings – full flexibility to adapt the indicator to your strategy.
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Trading Confidence – alerts and notifications keep you updated without needing to constantly monitor charts.