Product web page:
https://www.mql5.com/en/market/product/78178
Bollinger Bands Breakout Technique has an Arrows and Scanner Dashboard indicator set. It’s for MT4 (Metatrader 4) platform.
When worth breaks out of a Bollinger Outer Band in a strong means, it turns into an awesome place for scalping.
As a result of the following few bars will most probably maintain moving into the identical path.
Particularly if Center band can also be sloping in direction of that breakout.
It is also nice for Binary choices when utilizing 2-3 subsequent few bars.
Technique:
BUY Bollinger Bands:
- Worth breaks out of Bollinger Bands Upwards (Important Sign)
- Breakout Boll Band is sloped upwards above Slope Threshold worth (customizable)
- Reverse Boll Band is sloped downwards beneath Slope Threshold worth (customizable)
- Center Band is sloped upwards (customizable)
All different checks are optionally available
- Breakout Candle has a Sturdy Quantity
- CCI/RSI goes overbought
- Waddah is Inexperienced and explosive
- HTF and Present TF Development Test utilizing SSL
Similar however vice-versa for SELL
Options:
- Bollinger Bands Breakout
- CCI/RSI
- Waddah Explosion
- SSL Development Test
- Max Unfold Test
- Fastened Cease Loss and Take Revenue Possibility
- Calculation of Revenue Loss Factors and Win/Loss Depend and Revenue Proportion
- Debug Texts on bars to indicate why sign skipped
Free Downloads:
Connected with this submit are the additional indicators for VolumeCandles.ex4, Waddah, SSL.
For RSI, CCI or Bollinger Bands use the MT4 in-built indicators.
Free Scanner and Arrows Demo:
https://abiroid.com/product/bollinger-bands-breakout
Demo solely works for Arrows indicator on EURUSD or USDJPY or AUDUSD. Doesn’t work with the scanner.
Scanner wants the Arrows ex4 to work.
Please be aware that Bollinger Slope is calculated utilizing indicator:
https://abiroid.com/product/abiroid-bb-slope-bollinger-bands
You DO NOT want this indicator. It is going to be used internally by Arrows indicator.
But when it’s worthwhile to see the Bollinger Slope Histogram in your chart, then you would buy it for those who like.
To run this Bollinger Breakout Technique, this slope ex4 file is not wanted 🙂
The way it Works:
Bollinger Bands (Important Sign):
It’s an MT4 in-built indicator. It makes use of a easy shifting common of 20 durations, and plots higher and decrease bands which are 2 customary deviations away from the idea line.
These bands assist visualize worth volatility.
If a candle breaks out of a bollinger band, then worth often reverses if bands are unfold aside.
But when the breakout occurs proper after a bollinger squeeze, then worth will most probably maintain going in direction of the breakout. For the following few bars.
A bollinger squeeze is when worth consolidates in a decent vary:
And a powerful breakout proper after a decent squeeze is greatest kind of sign.
This Arrows indicator will search for Bollinger bands separation, by checking the slopes for:
- Breakout Band (the band the place worth broke out)
- the center band
- the alternative band (band reverse to breakout band)
All slope Threshold values that you just enter ought to be constructive values. The Indicator will robotically examine for destructive values based mostly on which band the worth is breaking out of.
Suppose BB Slope Threshold (Breakout) is 50. Then for BUY, it’s going to examine if slope is greater than 50. For SELL, it’s going to examine if slope is lower than -50.
And if BB Slope Threshold (Center)is 10. Then for BUY, it’s going to examine if slope is greater than 10. For SELL, it’s going to examine if slope is lower than -10.
If BB Slope Threshold (Reverse) is 30. Then for BUY, it’s going to examine if slope is lower than -30. For SELL, it’s going to examine if slope is greater than 30.
As a result of we wish the alternative band to open up in reverse path to the breakout band.
The steeper the Breakout Band slope, the farther the worth will most probably transfer. It should depend upon pair volatility. However maintaining it too steep can be very restrictive. It should give higher indicators, however only a few. For instance:
BB Slope Threshold (Breakout) 90
BB Slope Threshold (Reverse) 50
can be very restrictive.
For Bollinger band itself, specify “Interval,Deviation,Utilized Worth”as comma separated values. Utilized worth values are:
https://docs.mql4.com/constants/indicatorconstants/costs
” BB Slope Interval” and ” BB Slope ATR Interval” are for slope technology. Preserve default if not sure.
In order for you the breakout candle to be Excessive Quantity candle, maintain ” Test Excessive Quantity Bar” true.
It makes use of VolumeCandles.ex4 to search out excessive quantity bars. And it makes use of the Inexperienced/Purple quantity bars.
Win Fee Calculations:
This Indicator will by default use Sign Expiry Bars to examine for win/loss. Or it’s also possible to specify fastened SL/TP.
Take a look at this submit to learn extra about Win Fee and different frequent Scalper settings:
https://www.mql5.com/en/blogs/submit/748037
This indicator does not have variable SL/TP or TP_Ratio. As a result of it’s extra targeted on Scalping and binary choices.
Max Entry Candles:
Max candle size for breakout candle. In order that we will ignore candles which are too massive and worth has already gone too far and may retrace.
Use Crosshair instrument to calculate greatest candle heights in Factors:
https://www.mql5.com/en/blogs/submit/747462
Different Settings Defined:
If worth is already Overbought/Oversold, it offers even robust sign. Use Ocillators CCI or RSI to examine for Overbought or Oversold.
Waddah:
Sturdy Waddah Explosion additionally means robust sign. Makes use of waddah-attar-explosion_Abiroid.ex4
SSL:
For Present and better timeframes development examine, it makes use of SSL development examine: “SSL quick nrp atr bands.ex4”
Variety of Larger TF:In the event you specify 0, it’s going to solely examine present timeframe.
Or else suppose present is M15 and quantity is 2. It should examine SSL Development on present M15 and better M30 and H1.
Debug Messages:
Debug messages present what’s occurring behind the scenes 🙂
The inexperienced messages point out that the sign was BUY and crimson messages point out that the sign was SELL.
This message is the one one which reveals {that a} sign has occurred:
There’s a bollinger bands breakout
- NO-SLOPE-B or NO-SLOPE-M or NO-SLOPE-O
Slope of Breakout/Center/Reverse band will not be above their respective threshold
Excessive Quantity not there
The entry (breakout bar) top is greater than Max factors outlined for that timeframe
Waddah Excessive Explosion not there
Oscillator not Overbought/Oversold for BUY/SELL
SSL Development not aligned BUY/SELL for timeframe x. Timeframe present can be NO-SSL-C different greater timeframes can be NO-HTF-SSL:H1 and many others.
Learn how to Commerce:
Finest indicators are those proper after a decent bollinger squeeze. Strive buying and selling on at the very least M5+
M1 can have unpredictable worth actions. Finest timeframe is M15 or M30 for scalping.
Be Cautious:
Do not commerce if worth has been shifting too erratically like whipsaws. Which is perhaps doable throughout information occasions and many others.
Additionally watch out throughout low volatility. As a result of solely excessive quantity and excessive volatility indicators give good outcomes.
