Forex Bollinger Bands Power Stops Indicator
This Old Kings indicator for MetaTrader 4 is called Forex Bollinger Bands Power Stops Indicator. As the name suggests, the idea behind it is Bollinger Bands. In the code it works with Bollinger Bands. It draws arrows on the chart. It has 6 settings, for example Length (default 20), Deviation (default 2) and Money Risk (default 1.00). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 2 indicator files with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Indicator · MT4 · v1.0 · Free
About Forex Bollinger Bands Power Stops Indicator
Forex Bollinger Bands Power Stops Indicator is an indicator for MetaTrader 4 based on Bollinger Bands. It draws buy and sell arrows on the chart. It has 6 settings, such as Length, Deviation and Money risk. MQL source code included.
Files in the download: bbands_stop_v1.ex4, bbands_stop_v1.mq4, installation manual.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Length | 20 | Bollinger Bands Period |
| Deviation | 2 | Deviation |
| Money risk | 1.00 | Offset Factor |
| Signal | 1 | Display signals mode: 1-Signals & Stops; 0-only Stops; 2-only Signals; |
| Line | 1 | Display line mode: 0-no,1-yes |
| Nbars | 1000 |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Bollinger Bands · Buy/Sell Arrows · MT4 Indicator · MQL4 Source Code