BB Alert Arrows Indicator, Never Miss Key Breakouts

Description

A condensed form of the traditional Bollinger bands indication is the BB alert arrows indicator for MT4. The Bollinger bands on the price charts are not shown by the indicator. However, it uses the Bollinger bands to produce arrow-based forex trading signals based on bullish and bearish signs. Thus, forex traders can use the arrow indications to BUY and SELL.

Both novice and experienced forex traders can benefit from the indicator. Without having to consult the trading guidelines of the traditional Bollinger bands indicator, novice traders can use the arrow trading signals and start trading right away. Advanced traders, on the other hand, are able to employ intricate trading techniques and combine them with additional technical indicators. The indicator can also be used by technical forex traders to automate trading methods.

The indicator is most appropriate for top-down technical analysis and performs well in all intraday price charts as well as daily, weekly, and monthly charts.

BB Alert Arrows Indicator for MT4 Trading Signals

The BB Alert Arrows Indicator for MT4 is displayed in action in the GBPUSD H1 candlestick price charts above. The BB Alert Arrows Indicator notifies traders by email and sound and plots yellow bullish and bearish arrow indications.

Despite not showing the bands on the charts, the indicator operates according to the Bollinger bands trading guidelines. If the price crosses the lower Bollinger band and reverses, it prints an upward arrow, suggesting a possible bullish trend.

With a stop loss below the prior swing low, forex traders can thus enter the markets in a BUY position. Technical traders can leave the trade with any reversal indication or an amazing risk to reward ratio, but the ideal profit aim is to exit at the opposite arrow trading signal.

Likewise, the indicator displays a down arrow signal, signifying a bearish indication, if the price reaches the upper Bollinger band and reverses. As a result, forex traders can use a stop loss above the previous swing high to initiate a SELL trade. Additionally, traders can exit the transaction using different strategies or book gains at the opposite trading signal.

Since higher time frame trends typically last longer and yield the greatest results, trend traders can use this indicator to find the long-term price trend on a higher time frame chart. To find the optimal entry points and trade utilizing lower time frame charts, traders need apply the indicator to a lower time frame chart. As a result, forex traders can efficiently employ the indicator to implement top-down technical trading techniques. Additionally, traders can use multi-timeframe (mtf) trading methods with this indicator.

Conclusion

The BB Alert Arrows Indicator for MT4 facilitates buying and selling by offering arrow-based notifications for both bullish and bearish indications. Additionally, the indicator is free to download and simple to setup for forex traders. For best results, since the trading signals are reversal signals, traders should confirm the signals with other technical tools.