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Coloured Bollinger Bands

Coloured Bollinger Bands

The Coloured Bollinger Bands indicator is an enhanced version of the standard Bollinger Bands, offering customizable features to suit your trading needs. It uses the classic Simple Moving Average (SMA) as the middle band, and allows you to easily change the appearance of the bands, including the option to select colors and line types, ensuring better visual clarity and adaptability on your charts.

Key Features:

  • Bollinger Bands with SMA:

    • The middle band is calculated using a Simple Moving Average (SMA), just like the traditional Bollinger Bands.
    • The upper and lower bands are calculated based on the SMA, using the specified period and deviation for standard deviation, forming the familiar volatility channels.

  • Customizable Colors for Bands:

    • Upper Band: Choose any color for the upper band to match your chart preferences.
    • Middle Band (SMA): Change the color of the middle SMA line, allowing you to easily distinguish it from the upper and lower bands.
    • Lower Band: Select the color for the lower band to enhance the chart's visual contrast.

  • Adjustable Line Styles:

    • Select from a variety of line styles for the bands, including:
      • Solid Lines: For clear and continuous bands.
      • Dashed Lines: For a segmented appearance.
      • Dotted Lines: Ideal for a less intrusive look while maintaining visual clarity.

  • Period and Deviation Settings:

    • Period: Set the period for the SMA calculation (default is 20).
    • Deviation: Adjust the deviation (default is 2) to control the width of the bands based on price volatility.

  • User-Friendly Interface:

    • Easily modify the band colors, line styles, and other inputs using simple settings.
    • Real-time chart updates with each market tick.

How it Helps:

  • Volatility Analysis: The Bollinger Bands help measure market volatility, with price action bouncing between the bands indicating overbought or oversold conditions.
  • Clear Trend Signals: The bands provide an easy way to spot trend reversals or breakouts. When price reaches the upper band, it may indicate overbought conditions; when price touches the lower band, it could signal oversold conditions.

Compatibility:

  • Works on MetaTrader 4 (MT4) and can be used across various timeframes, making it suitable for all types of traders, from scalpers to long-term investors.


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Chart Patterns All in One
Davit Beridze
4.65 (17)
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Leave a Comment after purchase to get 4 high quality indicators as Bonus. The Chart Patterns All-in-One indicator helps traders visualize various chart patterns commonly used in technical analysis. It supports identifying potential market behaviors, but profitability is not guaranteed. Testing in demo mode is recommended before purchasing. Current Offer : 50% discount on the "Chart Patterns All in One" indicator. Included Patterns : Pattern 1-2-3 : Detects market reversals using three key point
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Oleg Rodin
5 (26)
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PRO Renko System is a highly accurate trading system specially designed for trading RENKO charts. The ARROWS and Trend Indicators DO NOT REPAINT! The system effectively neutralizes so called market noise giving you access to accurate reversal signals. The indicator is very easy to use and has only one parameter responsible for signal generation. You can easily adapt the tool to any trading instrument of your choice and the size of the renko bar. I am always ready to provide extra support to help
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Michela Russo
5 (1)
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Stratos Pali Indicator   is a revolutionary tool designed to enhance your trading strategy by accurately identifying market trends. This sophisticated indicator uses a unique algorithm to generate a complete histogram, which records when the trend is Long or Short. When a trend reversal occurs, an arrow appears, indicating the new direction of the trend. Important Information Revealed Leave a review and contact me via mql5 message to receive My Top 5 set files for Stratos Pali at no cost! Dow
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Felipe Jose Costa Pereira
5 (1)
Indicators
GOLDEN ARROW SCALPER! Main Features: Precise Entry Signals : Identify the ideal moments to enter the market based on mathematical calculations, optimizing your trading decisions. Instant Alerts : Receive real-time sound notifications whenever trading signals occur. Customizable Settings : Adjust EMA parameters to align the indicator with your strategy and trading style. Intuitive Visualization : Leverage contrasting colors (Sea Green and Red) to highlight the signals, making reading and decisio
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Order block hunter indicator is the best indicator for  hunt the order blocks that area where there has been a large concentration of limit orders waiting to be executed Order blocks are identified on a chart by observing previous price action and looking for areas where the price experienced significant movement or sudden changes in direction .This indicator does that for you by using very complicated codes and helps you to take the best areas To buy and sell because it make marks at the best a
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Version 1.2 2025.01.17
Minor bug fix