BB Stops – indicator for MetaTrader 5

  • Platform: Metatrader5
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • Well known BB Stops (Bollinger Bands Stops) indicator with some additions and further adapting to MetaTrader 5 usage.

    In this version you can chose the average type that should be used for calculation, deviation sample correction, and the usual things (like usual set of alerts and multi time frame options).

    BB stops mostly can be used two ways:

    • as “trending” indicator;
    • as indicator to be used for stop loss targets.

    In either case, the “direction” of the current market estimation is displayed, and the target value (when the “direction” will be changed) is displayed in this version — to help in decision making.

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    The usual “big picture” view too:

    Parameters are adjusted for the common usage. Some parameters experimenting is advised in any case (to be able to adjust the indicator to trading styles, symbols or time frames and trading risks).

  • How to install MT5 indicator?
  • 1. On the desktop, double-click to open the MT45 trading platform software you installed.
  • 2. Click on “File” in the upper left corner – “Open Data Folder”, double-click the MQL5 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT5, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window
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