Forex Bollinger Bands STD Welford Indicator
Forex Bollinger Bands STD Welford Indicator is an indicator for MetaTrader 4 from the Old Kings collection. Judging by its name, it is built around Bollinger Bands. Its source code uses moving averages. It has 5 settings, for example Length (default 14), Price (default PRICE_CLOSE) and Sample Deviation (default true). 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 STD Welford Indicator
Forex Bollinger Bands STD Welford Indicator is an indicator for MetaTrader 4 based on Moving Average. It has 5 settings, such as Length, Price and Sample deviation. MQL source code included.
Files in the download: bollinger_bands_-_standard_deviation_welford.ex4, bollinger_bands_-_standard_deviation_welford.mq4, installation manual.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Length | 14 | |
| Price | PRICE_CLOSE | |
| Sample deviation | true | |
| Band up multiplier | 1.5 | How much the lot size grows after a loss |
| Band down multiplier | 1.5 | How much the lot size grows after a loss |
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 · Moving Average · MT4 Indicator · MQL4 Source Code