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Three Bands Forex Trading Indicator

The Three Bands Forex trading indicator for MT4 consists of an upper band, middle band and lower band.

Support can be found at the lower blue band and resistance at the upper red band.

Price above the green middle band is considered to be bullish.

Price below the green band is considered to be bearish.

Trading Signals

Buy:

In an uptrend market(rising bands), wait for the price to move back above the green middle band from below.

Sell:

In an downtrend market(falling bands), wait for the price to move back below the green middle band from above.

Indicator Preferences

Currency pairs: any

Preferred Time frames: Suitable for 1 min charts up to the weekly charts.

Sessions: any

Download

Download the i-HighLowMiddle.ex4 indicator.

Configurable Indicator Options

Period, colors

GBP/USD Daily Chart Example

forex-ibands-indicator

How to install the Three Bands custom indicator in Metatrader 4?

  • Download the i-HighLowMiddle.ex4 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.