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The Price Bands (MT4) Indicator | 100% Free Download

Price Bands is a MetaTrader 4 (MT4) indicator that can be used with any Forex Trading System to provide additional confirmation when entering or exiting a trade. It enables you to determine whether a price is relatively high or low in comparison to its previous average, as well as forecast when it will rise or fall back to that level.ย 

This will assist you in deciding whether or not to acquire or sell an asset. All currency pairs and timeframes are supported by this indicator. The indication will appear in your trading chart after you download and install it, as seen in the image above.

Bollinger bands are used to evaluate if prices are relatively high or low. They're employed in pairs, with both upper and lower bands, and with a moving average. Furthermore, the pair of bands is not meant to be worn separately. Use the pair to double-check indications generated by other indicators.


How does this metric work?

  • The likelihood of a significant price move in either direction increases when the bands narrow during a period of low volatility. This could be the start of a trend. Keep an eye out for a false move in the opposite way that reverses before the true trend starts.
  • Volatility rises when the bands diverge by an unusually high amount, and any existing trend may be ending.
  • Prices tend to bounce around within the bands' envelope, touching one band before moving on to the next. These movements can be used to help identify possible profit prospects. If a price bounces off the lower band and subsequently crosses above the moving average, the profit goal shifts to the higher band.
  • During strong trends, price might surpass or hug a band envelope for extended periods of time. If your momentum oscillator shows divergence, you should do more study to see if taking additional profits is right for you.
  • When the price breaks out of the bands, a significant trend continuation is likely. If prices instantly return inside the band, however, the projected strength is lost.

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