Hi everyone! Welcome to my blog dedicated to successful forex trading. Today I’ve prepared an amazing MT4 indicator for you that I’ve been using for more than two years now!
The Bollinger Bands Buy/Sell Sniper indicator for the MT4 platform works well for any pair and timeframe.
The indicator generates a colored buy/sell signal line based on the positive/negative slope of the BB bands.
Some examples of the signals:
Signals from the Bollinger Bands Buy/Sell Sniper MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Go long when the Bollinger Bands Buy/Sell Sniper indicator changes its signal line color from red to green.
In this case, the Bollinger Bands trend changes from ST bearish to bullish. Place a stop loss below short-term support or use your own preferred SL method.
Sell Signal: Go short when the Bollinger Bands Buy/Sell Sniper indicator changes its signal line color from green to red.
In this case, the Bollinger Bands trend changes from ST bullish to bearish. Place a stop loss above short-term resistance or use your own preferred SL method.
Feel free to use this indicator together with other technical indicators (oscillators, momentum) or price action methods.