Bollinger Bands Width MT5 rr
- Indicators
- Version: 5.21
- Activations: 10
Crypto_Forex Indicator "Bollinger Bands Width" for MT5, No Repaint.
-BB Width indicator is designed for use together with standard Bollinger Bands indicator.
-This trading tool is must have for every trader who use Bollinger Bands indicator, because their combination is very efficient to trade Breakouts.
-BB Width indicator shows the distance (span) between Bollinger Bands.
HOW TO USE BB Width (See the example on the picture):
1) Find the lowest value of BB Width of the last 6 months and add 25% to this value to get Breakout LEVEL.
2) Attach Breakout LEVEL on BB Width indicator. Also attach Bollinger Bands indicator to the chart.
3) Wait until price stuck in flat between Bollinger Bands indicator borders and BB Width value is below the Breakout LEVEL.
4) Wait for breakout through Bollinger Bands indicator border (candle should close outside of bands), check BB Width - it should be above the Breakout LEVEL.
5) Open market order into the direction of breakout, set up the SL on the opposite Bollinger Bands border.
Set the TP at least 3 times bigger than SL (depending on support/resistance areas on a higher timeframe).
This is original product which is offered only on this MQL5 website.
