BB Trend Flat MT5
The indicator determines trend/flat status of the market using Bollinger Bands.
Bollinger Bands diverge when the market moves sharply and converge when there is flat. The indicator uses this peculiarity. When the market is calm and distance between Bollinger Bands is less than some value, the indicator shows flat (gray histogram by default). When the market starts moving and divergence of Bollinger Bands exceeds this value, the indicator determines direction of the movement and shows an up trend (green histogram) or a down trend (red histogram).
To make the indicator independent from a timeframe, the indicator uses not an absolute distance between bands but the relative parameter "Flat factor".
The indicator is a complete analogue of the BB Trend Flat indicator for MetaTrader 4
- BB Period – period of Bollinger Bands.
- BB Deviation – Bollinger Bands deviation.
- Flat factor – parameter determining flat. The greater the value, the bigger is the flat zone displayed by the indicator.
Notifications and Alerts:
- ON/OFF - Sound when the signal – enable/disable playing a sound signal when an upward or downward movement starts.
- ON/OFF - Alert – enable/disable messages in the terminal when signals occur.
- ON/OFF - Mail - enable/disable sending emails.
- ON/OFF - Push - enable/disable sending push notifications to mobile devices.
- Sound file on the closed bar – name of the sound file for the signal