Fiji Bollinger Band Alert Indicator for MT4 Download - Free - [TFlab]

The Fiji BB Alert Indicator for MetaTrader 4 displays price trend volatility by creating a Dynamic Bollinger Band.  This trading tool is one of the MT4 signal and prediction indicators; therefore, it issues entry signals using circular markers.

This tool also displays support and resistance levels. The lower band of the indicator is drawn in red and acts as a support zone, while the green band functions as a resistance zone.

Fiji BB Alert Indicator Specifications

The specifications of the Fiji BB Alert indicator are shown in the table below.

Overview of the Indicator

Entry signals are generated when a fake breakout occurs at one of the channel bands.

When a candle closes outside the bands and the next candle returns inside the channel, the indicator issues an entry alert using a small circle.

Buy Entry Signal

According to the XAU/USD (Gold to USD) chart analysis on the 4-hour timeframe, the indicator identifies Fake Breakout points using blue circles as buy entry signals.

Price contact points with the channel ceiling are suitable exit levels in such cases.

Sell Entry Signal

In a downtrend, the Fiji BB Indicator marks fake breakouts at the channel ceiling using red markers as sell entry signals.

The lower dynamic level of the channel serves as a suitable exit zone for sell trades.

Fiji BB Indicator Settings

The image below pertains to the settings panel options of the Fiji BB Alert Indicator:

• Bands Period: Calculation period for indicator bands
• Bands Deviation: Distance between upper and lower bands
• MA Method: Moving average calculation method
• MA Applied Price: Type of input price for MA calculation
• MA Shift: Shift value for the moving average band
• Bars Back: Number of past candles for calculations
• Alerts ON: Enable alerts
• Sound Alert ON: Enable Sound Alert
• Buy Sound File: Sound file for buy alert
• Sell Sound File: Sound file for sell alert
• Email Alert ON: Enable email alert
• Signal Bar: Alert signals based on a specific number of candles
• Lookback: Historical range for calculations

Conclusion

The Fiji BB Alert Indicator is one of the MT4 indicators, which clearly identifies price volatility using two dynamic bands.

Based on the functionality of this trading tool, price touching the upper band is considered a sell entry signal, while price touching the lower band is regarded as a buy trade signal.