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Super Bollinger Bands MT5

This is a forward-looking indicator for trading on all instruments. An advanced version of Bollinger Bands indicator created by outstanding analyst John Bollinger. One of the main differences of Super Bollinger Bands indicator from its predecessor consists in displaying upper and lower ribbons behavior on the middle line with some specific colors. Thus, the indicator gives a trader some visual information about trend development at the moment, and not in the past, as majority of other indicators do. It supports sending notifications by email and also as alerts.

The indicator shows, in what direction the price will move, and is a forward-looking to a certain extent. It also informs about moments of movement damping allowing the trader to timely orientate himself or herself and exit the market before the movement changes. When you use the Super Bollinger Bands indicator, you don't have to look at ribbons all the time, as their behavior is sufficiently described by the middle line.

Indicator parameters

Ribbons Settings

  • bb_period - ribbons period (20)
  • bb_dev - ribbons deviation (2)
  • bb_shift - shift (0)
  • bb_price - apply calculation to (Close Price)

Super Bollinger Bands Settings

  • mode_ma - moving average drawing mode. Full drawing - full drawing regarding a trend direction and a direction of ribbons movement. Simple drawing - regular drawing regarding a trend direction. (Full drawing)
  • draw_bb - show/hide ribbons. true - show ribbons. false - hide ribbons. (true)
  • cmp_dev - acceptable error to compare characteristics in the process of drawing (0.00001)

If you increase cmp_dev parameter, the drawing will be less sensitive, if you decrease this parameter, the indicator will draw a lot of false signals. We recommend to set the parameter according to ribbons settings and price movement.

  • n_bars - number of bars for calculations (n_bars = -1 - all bars)

Configuring Notifications

  • send_mail - true means receiving signal alerts by email
  • send_mail_test - sending a test email notification upon indicator launch (false)
  • alerts - sending alerts to notify of a signal (true)
  • uptrend_accel - enable-disable the "Acceleration uptrend" signal (true)
  • uptrend_fad - enable-disable the "Fading uptrend" signal (true)
  • downtrend_accel - enable-disable the "Acceleration downtrend" signal (true)
  • downtrend_fad - enable-disable the "Fading downtrend" signal (true)
Notifications only work in the full MA drawing mode (mode_ma = Full drawing)!

Attention! Email notifications and alerts do not work during testing, messages to the tester Journal are written instead. The function works if alerts=true.

Settings of Lines Colors and Width

In contrast to the MT4 version, this one only uses 3 buffers to display data. Therefore you can now conveniently configure colors and width for each of the three lines separately using the Colors tab. So the color and width settings have been removed from the Inputs tab.

How to Trade

Please read the description of the MT4 version and watch the video to learn how to trade.
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