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True Range Envelopes Metatrader 4 Indicator

    True Range Envelopes indicator for MT4 looks similar to Bollinger Bands but slightly different because it also includes volatility for it’s band calculations.

    The price usually moves within the upper-and lower band.

    Trading Signals:

    BUY: Buy at the lower band with stop-loss below the most recent swing low. Take profit at the middle band or upper band.
    SELL: Sell at the upper band with stop-loss above the most recent swing high. Take profit at the middle band or lower band.

    Use in conjunction with other technical tools.


    Download the True Range Envelopes.mq4 indicator.

    EUR/USD Daily Chart Example

    true-range-envelopes-metatrader4 indicator

    How to install the True Range Envelopes custom indicator in Metatrader 4?

    • Download the True Range Envelopes.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.