Bollinger Trend Signals MT5

Bollinger Trend Signals MT5- is a trend indicator based on Bollinger Bands. All signals are generated without repainting or lag. It identifies the directional trend channel, potential entry points, and possible exit points for trades.

How the indicator works
The indicator functions by combining a trend channel with a system that identifies price peaks and troughs.

The blue line represents the main smoothed trend line; when it is above the price, the trend channel is bearish, and when it is below the price, the trend channel is bullish.
An orange arrow indicates a downward trend signal, while a light blue arrow indicates an upward signal.

In a bullish trend, orange dots mark potential exit points, identifying price pauses at peaks. Light blue dots indicate a resumption of upward movement and serve as points for re-entry or adding to a position.

In a bearish trend, light blue dots mark potential exit points, identifying price pauses at troughs. Orange dots serve as points for re-entry or adding to a position.

1. The indicator is recommended for use on timeframes ranging from M1 to H4.
2. It is designed for use with currencies, metals, and indices.
3. Alerts are available for all signals.
4. The indicator operates with absolutely no repainting.
5. All signals are generated upon candle close.

Input parameters

• Period Bollinger Bands – The main period for the trend channel.
• Show Bollinger Bands – Displays the Bollinger Bands on the chart.
• Re-entry Stop Dot Period – The period for identifying price peak and trough points.
• Price Calculating – Selection of the price type for calculations; two options for trend channel construction are available.

When using higher timeframes, the periods should be increased to reduce market noise.