The Doda BB Bands indicator generates buy and sell signals based on the original Bollinger Bands indicator.
Red dots mean bearish trend while blue dots mean bullish trend.
Trading Signals
BUY: In uptrends: Go long at the first blue dot and trail your stop-loss below the blue rising dots to lock in profits.
SELL: In downtrends: Go short at the first red dot and trail your stop-loss above the red falling dots to lock in profits.
Use in conjunction with trend analysis indicators/tools to determine the primary trend. Avoid trading against the primary trend.
Download
Download the Doda Bollinger Bands.mq4 indicator.
EUR/JPY Daily Chart Example
How to install the Doda Bollinger Bands custom indicator in Metatrader 4?
- Download the Doda Bollinger Bands.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.