BBands Stop is a trend following MT4 indicator that works on all time frame’s for all currency pairs.
Green colored dots suggest uptrend.
On the contrary, orange dots suggest downtrend.
BUY: Open long position at the first green dot and trail your stop 1 pip below the green rising dots to lock in profits.
SELL: Open short position at the first red dot and trail your stop 1 pip above the red falling dots to lock in profits.
Reverse your initial trading position when the dots change color (red to green or green to red).
EUR/JPY Daily Chart Example
How to install the BBands Stop V1 custom indicator in Metatrader 4?
- Download the BBands Stop V1.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.