Download the Bollinger Bands MACD Indicator for MT4 - Free - [TFlab]

The Bollinger Bands MACD Indicator for the MetaTrader 4 platform is designed to enhance the accuracy of identifying reversal or trend continuation points.

Bollinger Bands helps define dynamic support and resistance levels and measure price volatility.

On the other hand, MACD is known as a tool for detecting trend strength and direction.

This combined indicator generates signals based on the interaction of MACD lines with Bollinger Bands.

Indicator Table

Bullish Trend Example

In the CAD/JPY currency pair, if the MACD line is above or inside the upper Bollinger Band, it indicates strong bullish momentum, signaling a price move toward an uptrend.

In this indicator, entry signals are displayed in blue.

Bearish Trend Example

For the GBP/JPY currency pair, if the MACD line is below or crosses under the Bollinger Bands, it indicates a downtrend.

The indicator automatically provides a bearish signal by changing the MACD line color to red.

Indicator Settings

• Chart Theme: Background color of the chart;
• Fast ma period: Fast MACD calculation period (default: 12);
• Slow ma period: Slow MACD calculation period (default: 26);
• bb period: Bollinger Bands calculation period (default: 10);
• Bb std: Bollinger Bands standard deviation (default: 2.5);
• Alert: Alerts traders when MACD intersects Bollinger Bands;
• Alert email: Sends an email alert to traders when MACD intersects Bollinger Bands;
• Sound file: Sound for alert notifications;
• Look back: at the number of candles displayed by the indicator in the past.

Conclusion

The BB MACD Indicator combines the Bollinger Bands and MACD indicators to help identify bullish and bearish trends in the market.

Bollinger Bands displays price volatility, while MACD helps pinpoint suitable entry and exit points during uptrends and downtrends.