Percent B Indicator
- Indicators
- Amirhossein Ghasemi Moroodi
- Version: 1.4
- Updated: 6 March 2024
🌟 After 7 years I decided to release some of my own indicators and EAs for free.
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📈 Bollinger %B Indicator for Enhanced Forex Trading Analysis
The Bollinger %B Indicator, expertly crafted in MQL4, is a dynamic 🚀 tool designed to revolutionize forex trading analysis. Leveraging the power of Bollinger Bands, it provides accurate and timely insights into market trends and potential trading opportunities.
Key Features:
- Accurate Calculation 🔍: Utilizes the formula %B = (Current Price - Lower Band) / (Upper Band - Lower Band) for in-depth market analysis.
- Market Insights 📊: Effectively identifies overbought (>1) and oversold (<0) conditions, offering early signals of potential market reversals.
- Trend Analysis 📉📈: Determines the strength of market trends, with values around 0.5 indicating a balanced market scenario.
- Divergence Detection ⚠️: Flags divergences between price movements and the %B value, a critical indicator of potential trend shifts.
Usage and Signal Interpretation:
- Setup 🛠️: Install the %B Indicator to your trading platform (Metatrader 4). Customize settings as needed to fit your trading strategy.
- Market Analysis 📡: Monitor the %B value in relation to your chosen currency pairs. Watch for values above 100 (overbought), below 0 (oversold), or around 50 (market balance).
- Signal Interpretation 🚦: Use overbought/oversold conditions as potential signals for market reversals. Confirm these signals with other technical indicators or market analysis for better accuracy.
- Trade Execution 💹: Execute trades based on the combination of %B Indicator signals and your overall market analysis. Always consider risk management strategies.
Whether you're a seasoned trader or just starting out, the %B Indicator is an invaluable addition to your toolkit 💼. It's designed to be user-friendly, providing clear, actionable data to inform your trading decisions.
For more information about the indicator, watch this informative video by John Bollinger.
Contact and Support 📞
For support or further information, please contact me at @amirghm on Telegram.
This tool is proudly brought to you by Wolfox Software Corp. (2020-2024) 🏢
Developed by Amir Hossein Ghasemi 🌟
Al configurar 2 períodos el indicador no funciona. MT4 se bloquea.
I will take a look at it and will back to you