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Try it in the MetaTrader 5 terminal. The matter is that the set of bands having the "Deviation" parameter from the range of 1, 2, 3, 4, 5 and other values denotes support and resistance levels fairly well. The indicator is built in four variants with different amount of levels for different application cases. The indicator is built with the use of universal smoothing with two averagings and a possibility to select each of these averagings from the dozen of possible variants: It should be noted that Phase1 and Phase2 parameters have completely different meaning for different smoothing algorithms.

For T3 it is a smoothing ratio multiplied by for better visualization, for VIDYA it is a CMO oscillator period and for AMA it is a slow EMA period.

Technical Indicators / iBands - Reference on algorithmic/automated trading language for MetaTrader 5

For AMA fast EMA period is a fixed value and is equal to 2 by default. The ratio of raising to the power is also equal to 2 for AMA.

The indicators use SmoothAlgorithms.

Forex Indicators Guide

The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers". Translated from Russian by MetaQuotes Software Corp. Forum on trading, automated trading systems and testing trading strategies.

Bollinger Bands Indicator Bulge and Squeeze Technical Analysis. Bollinger Bands Price Action in Trending Forex Markets.

MACD | Forex Indicators Guide

Bollinger Bands Price Action in Ranging Forex Markets. Bollinger Bands Trend Reversals- Double Tops and Double Bottoms. Bollinger Bands Forex Trading Strategy Summary. Bollinger Bands is a popular indicator that can be used in various ways.

However, like most indicators it should not be used alone. This indicator work best combined with overbought and oversold indicators and oscillators. Since Bollinger Bands uses volatility to determine the trend, traders should not use indicators that duplicate this information.

Instead these bands should combined with indicators that measure volume or momentum. The table below summarizes trading strategies used with this indicator. The color histogram based on the Momentum and Perry Kaufman's Adaptive Moving Average indicators. MetaTrader 5 Experts Indicators Scripts Libraries MetaTrader 4 Experts Indicators Scripts Libraries Watch how to download trading robots for free.

Download as ZIP , How to download code from MetaEditor. SMA - simple moving average; EMA - exponential moving average; SMMA - smoothed moving average; LWMA - linear weighted moving average; JJMA - JMA adaptive average; JurX - ultralinear smoothing; ParMA - parabolic smoothing; T3 - Tillson's multiple exponential smoothing; VIDYA - smoothing with the use of Tushar Chande's algorithm; AMA - smoothing with the use of Perry Kaufman's algorithm. Last comments Go to discussion 8.

Sergey Golubev 12 Feb at Murrey Math Lines for the Current Bar Murrey Math Lines for the current bar are an effective tool for the market movements forecasts. Keltner Channels Set Set of Keltner Channels based on the universal smoothing.