Fiji Bollinger Band Alert Indicator MT4
- Indicatori
- Eda Kaya
- Versione: 1.3
Fiji Bollinger Band Alert Indicator for MT4
The Fiji Bollinger Band Alert Indicator for MT4 helps visualize market volatility by forming adaptive Bollinger Bands. This indicator functions as one of MT4’s forecasting tools, delivering potential trade signals through circular visual cues.
It marks the lower boundary in red to indicate a support area, while the green upper band highlights resistance zones.
«Indicator Installation & User Guide»
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Fiji BB Alert Indicator Specifications
You can refer to the details of this tool in the following table:
Category | Signal & Forecasting – Bands & Channels – Price Zones |
Platform | MetaTrader 4 |
Skill Level | Beginner |
Indicator Type | Reversal – Continuation – Breakout |
Timeframe | Supports Multi-Timeframe |
Trading Style | Scalping – Intraday |
Market | Suitable for All Financial Markets |
Overview of the Indicator
This indicator issues trade alerts when a false breakout is detected at the band extremes. When a candle breaks out beyond the channel but the following one reenters, a signal is triggered using a small circle marker.
Buy Entry Signal
On the 4-hour chart of XAU/USD (Gold vs US Dollar), blue dots indicate potential long opportunities by signaling fake breakouts at lower zones. When price moves close to the upper green band, traders may consider it a reasonable take-profit region.
Sell Entry Signal
In bearish scenarios, red circles point to false breakouts near the channel top, which may indicate sell entries. The red lower band then becomes a logical area for potential trade exits.
Fiji BB Indicator Settings
Below is an overview of the available configuration options in the settings panel of the Fiji BB Alert tool:
- Bands Period: Defines how many candles are used in band calculations
- Bands Deviation: Sets the distance between the upper and lower bands
- MA Method: Type of moving average calculation
- MA Applied Price: The price type used in the moving average formula
- MA Shift: Number of bars to shift the MA on the chart
- Bars Back: History length for processing data
- Alerts ON: Toggle to enable signal alerts
- Sound Alert ON: Activates audible alerts
- Buy Sound File: Sound assigned to buy signals
- Sell Sound File: Sound used for sell alerts
- Email Alert ON: Enables notifications via email
- Signal Bar: Determines which candle triggers the signal
- Lookback: The range of previous data the indicator evaluates
Conclusion
The Fiji Bollinger Band Alert Indicator for MT4 serves as a practical tool to monitor and interpret price dynamics using two reactive bands. It signaling mechanism allows traders to spot trade opportunities: touches on the upper green band can hint at selling conditions, while touches near the lower red band may suggest buying setups.