Val Bands V3 Oscillator for MetaTrader 5 Download – Free – [TFlab]

The Val Bands V3 Indicator, by combining Bollinger Bands with color coded histograms, offers a comprehensive view of trend strength and market entry/exit points.

This trading tool calculates Bollinger Bands based on candle length, providing greater flexibility in analyzing price movements. The colored histograms provide traders with a range of insights into current market trends.

Val Bands V3 Oscillator Specifications Table

The table below displays the specifications of the Val Bands V3 Indicator:

Val Bands V3 Indicator at a Glance

In the Val Bands V3 Oscillator, histogram colors act as a signal for market conditions.

A yellow bar indicates a neutral or ranging market. Light blue bars imply a weak bullishtrend, while dark blue bars reflect a strong bullish move.

Conversely, pink bars point to mild bearish momentum, and red bars are used to signify intense downward pressure during sharp market declines.

Bullish Trend Conditions

According to the analysis of the GBP/USD currency pair in the 1-hour timeframe, the appearance of the first blue histograms above the Bollinger Bands can be interpreted as an indication to initiate buy positions.

Sustained dark blue bars during the trend confirm the increasing strength of the bullishmovement.

Bearish Trend Conditions

Based on the 15-minute chart analysis of the Tron (TRX) cryptocurrency, two red histograms closed in the upper region of the Bollinger Bands.

In this scenario, the first color change in the histogram bars may be interpreted as a sign of market reversal and a possible sell entry.

Additionally, an increase in the size and frequency of pink and red bars signals intensifying selling pressure and a strengthening downtrend.

Val Bands V3 Indicator Settings

The image below shows the settings of the Val Bands V3 Indicator:

• Bands Period: The period used to calculate the Bollinger Bands
• Bands Method: The averaging method used for Bollinger Bands
• Bands Deviation: Standard deviation coefficient for plotting upper and lower Bollinger Bands
• Bands Shift: The shift applied to Bollinger Bands
• Show Bands: Toggle to show or hide the bands
• Lookback: Number of previous candles used for indicator calculations

Conclusion

The Val Bands V3 Oscillator facilitates the identification of market trends and ranging conditions by analyzing the length of candlesticks.

Through color-coded histogram bars, it offers detailed insight into trend strength, potential reversal zones, and optimal trade entry and exit points.

One of the key advantages of this tool is its wide applicability across various markets, including Forex, cryptocurrencies, stock indices, and even commodities.