Forex Bollinger Bounce Scalping Strategy
Forex Bollinger Bounce Scalping Strategy is an indicator for MetaTrader 4 from the Old Kings collection. As the name suggests, the idea behind it is Bollinger Bands and short scalping trades. Its source code uses moving averages. It can send alerts. It has 30 settings, for example Bands Period (default 20), Bands Shift (default 0) and Bands Deviations (default 2.0). Load it on a demo chart and check whether its signals repaint before trusting them. Inside: 6 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 Bounce Scalping Strategy
Forex Bollinger Bounce Scalping Strategy is an indicator for MetaTrader 4 based on Moving Average. It can alert you with a pop-up, sound, email or push message. It has 30 settings, such as Bands period, Bands shift and Bands deviations. MQL source code included.
Files in the download: !XPS v8 CLOCK.mq4, Bands.ex4, Bands.mq4, bollinger bounce template.tpl, ColorRSI_Histo_ZeroLine.ex4, FFCalNew.ex4, FFCalNew.mq4, installation manual.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Bands period | 20 | Period or timeframe used by the calculation |
| Bands shift | 0 | Bar shift (0 = current bar) |
| Bands deviations | 2.0 | |
| Include high | true | |
| Include medium | true | |
| Include low | false | |
| Include speaks | true | news items with "Speaks" in them have different characteristics |
| Is ea call | false | |
| Offset hours | 0 | No longer used - euclid |
| Allow web updates | true | Set this to false when another indicator instance is already |
| Alert1 mins before | -1 | Set to -1 for no Alert |
| Alert2 mins before | -1 | Set to -1 for no Alert |
| Report all for usd | false | |
| Enable logging | false | Perhaps remove this from externs once its working well |
| Show next two events | true | |
| Show vert news | false | |
| Txt size | 10 | |
| Txt color title | LightGray | Colour on the chart |
| Txt color news | DeepSkyBlue | Colour on the chart |
| Txt color impact | Red | Colour on the chart |
| Txt color previous | Peru | Colour on the chart |
| Txt color forecast | Lime | Colour on the chart |
| Vert txt shift | 21 | How far away below the ask line we want to place our vertical news text |
| Vert left line shift | 900 | How far away to the left of the line we want to place our vertical news text |
| Vert right line shift | 200 | How far away to the left of the line we want to place our vertical news text |
| Vert line color | SlateBlue | Color of our vertical news line |
| Vert txt color | DimGray | Color of our vertical text color |
| Vert txt size | 8 | Color of our vertical text |
| News corner | 0 | Choose which corner to place headlines 0=Upper Left, 1=Upper Right, 2=lower left , 3=lower right |
| Save xml files | true | If true, this will keep the daily XML files |
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: Scalping · Bollinger Bands · Alerts · Moving Average · MT4 Indicator · MQL4 Source Code