PZ Bollinger Trend MT5
A personal implementation of the famous Bollinger bands indicator as a trend following mechanism, which uses a moving average and the standard deviation to define what a trend is and when it changes. Bollinger bands are usually used as an oversold/overbought indicator only, but in my opinion, the trading approach is more complete using the trend variant as an exit strategy. [ Installation Guide | Update Guide | Troubleshooting | FAQ | All Products ]
- Easy to trade
- Customizable colors and sizes
- It is non-repainting and non-backpainting
- It is fantastic as a trailing stop method
- It implements alerts of all kinds
When loading the indicator to any chart, you will be presented with a set of options as input parameters. Do not despair if you think they are too many, because parameters are grouped into self-explanatory blocks. This is what each block of parameters does.
- Period - MA period of Bollinger bands.
- Deviation - standard deviation for Bollinger bands.
- Max History Bars - past bars to draw when the indicator loads.
- Drawing Settings - colors and sizes for arrow objects.
- Alerts - enable/disable alerts of all kinds, or set a custom alert text.
SupportI am happy to provide free products but given my limited time, they come without support of any kind. My apologies.
Arturo López Pérez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.