The Bollinger Bands Bicolor Indicator is a popular and free Forex indicator for MT4 that can be used to identify price trends. The indicator works by plotting two different colored bands on the chart. The upper band is usually colored red and the lower band is usually colored green. When the price is above the upper band, it is considered to be overbought and when the price is below the lower band, it is considered to be oversold. This indicator can be used to identify potential entry and exit points for Forex traders. The Bollinger Bands Bicolor Indicator is based on the concept of volatility. The bands are calculated by taking the standard deviation of the price over a certain period and then multiplying it by two. The standard deviation is used to measure the amount of variation in the price of a currency pair. The higher the standard deviation, the more volatile the currency pair. The indicator will then plot the upper and lower bands based on this volatility.
MT4
![](https://www.mt4collection.com/wp-content/uploads/2023/04/Bollinger-Bands-Bicolor-screenshot-1-230x144.png)
![](https://www.mt4collection.com/wp-content/uploads/2023/04/Bollinger-Bands-Bicolor-screenshot-2-230x144.png)
![](https://www.mt4collection.com/wp-content/uploads/2023/04/Bollinger-Bands-Bicolor-screenshot-4-230x144.png)
![](https://www.mt4collection.com/wp-content/uploads/2023/04/Bollinger-Bands-Bicolor-screenshot-3-230x144.png)
Bollinger Bands Bicolor
The Bollinger Bands Bicolor Indicator is a popular and free Forex indicator for the MT4 platform. This useful indicator is used to identify potential reversals and breakouts in the Forex market. It works by plotting two different Bollinger Bands, one in a red color and one in a blue color, on the same chart. The red band indicates a potential bearish reversal, while the blue band indicates a potential bullish reversal. By using the Bollinger Bands Bicolor Indicator, traders can easily identify potential entry and exit points in the Forex market.
Trading Style | , |
---|---|
Indicator Type | , |
Timeframe | |
Platform |
0
People watching this product now!
Categories: Envelope Indicators, Trend
Downloads - 57
Description
Reviews (0)
Be the first to review “Bollinger Bands Bicolor” Cancel reply
How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
Related products
Exponential Moving Average
The EMA Indicator is a popular new forex tool for MT4 that is available for free download. It is a type of moving average that provides more weight to recent price changes, making it more responsive to current market conditions. The EMA indicator works by calculating the average price of an asset over a given period, with more emphasis placed on recent price action. This makes it a useful tool for traders looking to identify trends and changes in market direction.
FX Sniper
The FX Sniper indicator is a new and popular forex indicator available for free on the MT4 platform. It uses advanced algorithms to identify trends and potential trading opportunities. The indicator is easy to use and gives clear signals on when to buy or sell based on market conditions. The FX Sniper indicator is suitable for traders of all levels, from beginners to experienced traders who want to improve their trading performance and profitability.
Automatic Trendlines
The Automatic Trendlines indicator is a new and popular free to use MT4 indicator designed to automatically draw trendlines on your chart, saving you time and effort. The indicator uses advanced algorithms to determine trendlines based on price movement and can be used on any currency pair or timeframe. The Automatic Trendlines indicator is a useful tool for traders who want to quickly and easily identify trends in their charts.
Reviews
There are no reviews yet.