Bollinger Bands ‘Out’ Arrow Alert Indicator (MT4 and MT5)

• Version
• Download 1015
• File Size 39.33 KB
• File Count 1
• Create Date September 20, 2019
• Last Updated February 27, 2025

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Bollinger Bands 'Out' Arrow Alert Indicator (MT4 and MT5)

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This indicator will generate an arrow alert whenever the price/candle crosses and closes 'OUT' below the bottom bollinger band or 'OUT' above the top bollinger band. The top band indicates a potential SELL signal and the bottom band indicates a potential BUY signal.

This indicator should only be used with or as part of a reliable, consistent working strategy that requires the use of the Bollinger Bands Indicator.

Notes and recommendations: Works well with ranging markets. Avoid using during 15-20 minutes before and after medium/high impact news and opening hour of major market sessions. Should only be used with a reliable strategy, proper market analysis and added confirmations to suggest high probability win trade. Take caution during NFP (Non-farm payroll) week, try to avoid trading during NFP week.

Arrow Style Types Table: (Go to Arrow Styles Types page for more details and instructions)

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