This multi-functional indicator is an oscillator (MAСD, Momentum, RSI, MFI) normalized for Bollinger Bands. The normalized overbought determines overbought and oversold areas more correctly. The oscillator can be displayed as a line, a histogram or a filled histogram. The upper and lower Bollinger Bands are configured independently (period and deviation). This indicator is used by the "Bollinger Bands strategy" Expert Advisor. It is provided to facilitate the visual selection of the parameters....
The difference of this indicator from the Bollinger Bands technical indicator is that the parameters of upper and lower bands (period, shift and deviation) can be configured individually; the middle band is calculated as the arithmetic mean.
Period Upper Line - period of the upper line Period Lower Line - period of the lower line Shift Upper Line - shift of the upper line Shift Lower Line - shift of the lower line Deviation Upper Line - deviation...
Bollinger Bands strategy
An EA to help traders using Bollinger Bands in trading provides an opportunity to evaluate the effectiveness and optimize the three trading methods (strategies) described in John Bollinger’s book BOLLINGER ON BOLLINGER BANDS, with some additions.
Lot volume in trade (% of deposit)
Lot calculation ratio (1 ... 100) depends on the broker
Indent trailing stop
Step trailing stop
Open long positions?
Open short positions...