Download the Bollinger Bands MACD Indicator for MT5 - Free - [TFlab]

The Bollinger Bands MACD Indicator in MetaTrader 5 is designed by combining two powerful tools: MACD and Bollinger Bands.

This indicator helps traders identify reversal points and trend continuation in the market.

This indicator simplifies identifying optimal entry (Buy) and exit (Sell) points for trades in volatile market conditions.

Bollinger Bands displays price volatility, while MACD analyzes trend strength and direction.

Buy and Sell signals are generated when the MACD line crosses the Bollinger Bands.

Indicator Table

Indicator in an Uptrend

The image shows that the AUD/NZD currency pair is displayed inin a 30-minute timeframe.

If the price is a downtrend and the MACD line crosses or breaks above the upper Bollinger Band, the MACD color changes from purple to green.

Traders can consider the potential for a price reversal in these areas and, after receiving confirmations, enter a Buy trade.

Indicator in a Downtrend

If the price is in an uptrend and the MACD line crosses or breaks above the upper Bollinger Band, the MACD line color changes from green to purple.

This situation can indicate overbought conditions in the market and the possibility of a price decline.

The chart below shows the EOS cryptocurrency in a 4-hour timeframe. Sell zones are highlighted in purple, and traders can enter a Sell trade after receiving the necessary confirmations.

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 Bollinger Bands MACD Indicator has two main lines and the MACD centerline.

Expansion or contraction of these bands and the breakout of candles from the bands provide various Buy and Sell signals.

Traders use this indicator to determine optimal entry points for trades.