Trading utilities for MetaTrader 5
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MetaTrader 5
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Overview
The Advanced Bands indicator is a custom indicator based on the classic Bollinger Bands as created by John Bollinger. Generally, Bollinger Bands are created by adding/subtracting a number of standard deviations from the price. Advanced Bands also creates bands the same way and adds more features to be more useful for traders.
FEATURES
- Three levels of bands (inside, outside, extreme) and a moving average can be plotted.
- Area between bands can be filled and highlighted.
- Number of deviations for each band can be changed.
- Customizable color, size, and visibility of all GUI objects.
- Bands and Price crossings can be shown on the chart
- Trade signals are calculated and can be set to trader in many ways.
- Indicator statistics are managed and can be shown on the chart.
PARAMETERS
The Advanced Bands indicator has many configurable parameters. This allows for all aspects of the indicator to be changed for the user’s preferences. By default, the indicator is designed to work without any changes by the user. The parameters are divided into the following categories:
- Indicator Parameters
- Bollinger Bands Parameters
- Indicator Statistics Parameters
- Inside Bands Parameters
- Outside Bands Parameters
- Extreme Bands Parameters
- Moving Average Band Parameters
- Crosses Parameters
- Signals Parameters
- Message Parameters
- Quiet Time Parameters
- Debug Parameters
It should be noted that the user does not have to change any parameters for the indicator to work. All parameters have default values that have the lowest impact on the indicator and user. The Advanced Bands indicator is designed to work perfectly by just placing it on a chart.
