On the last tip, we saw Forex Indicator Tendency Lines on Metatrader 4. Today, we will be focusing on the use of the Forex Indicator Bollinger Band on MT4
The Technical Forex Indicator, BOLLINGER BAND, allows us to identify entry point in an oscillating channel on Metatrader 4
How to Add the Forex Indicator-Bollinger Band on MT4?
The default parameters of this indicator are:
MetaTrader 4’s Forex Indicator Bollinger Band is used on oscillating situations and allows the user to identify entry points on long (tagged in yellow) and short (tagged in cyan) positions.
The Forex Indicator Bollinger Band has three lines, Middle, Upper, Lower band. When the price reaches the Inferior Band, we’ll take long positions. When it touches the upper band, we’ll take short positions.