The Bollinger Bands Stops HMA Based forex Indicator displays trend-defining bands below or above the price. As the name suggests, that indicator uses Hull Moving Average (HMA) and Bollinger Bands Stops to calculate the signals. The trend momentum is bullish when the blue band below the price is placed. Conversely, the orange band above the price indicates a bearish trend momentum.
The Bollinger Bands Stops HMA-Based forex Indicator fits all kinds of timeframes and mt4 currency pairs. It is shown directly on the main mt4 trading chart. The default indicator settings can be modified now from the input tab. Feel free to try it with the settings and parameters to fit your preferences.
How can the Bollinger Bands Stops HMA Based forex indicator be set up in MetaTrader (MT5)?
Installation Guide
Download the Bollinger Bands Stops HMA Based.zip archive at the end of this post, unzip it, then copy and paste the Bollinger Bands Stops HMA Based.ex5 or Bollinger Bands Stops HMA Based.mq5 indicator files into the MQL5 folder of the MetaTrader 5 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL5 > Indicators (paste here).
Now go to the left side of your MT5 terminal. In the Navigator, find the gauge name, right-click it, and select Attach to the chart.
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Bottom Line
The Bollinger Bands Stops HMA Based indicator is worth adding to your trading collection. An intelligent forex indicator will enhance your chance of success. Nonetheless, remember to have realistic expectations. Just like any other technical analysis indicator tool, it cannot provide accurate signals 100% all of the time. Thus, this forex indicator gives false signals occasionally. Its performance will change significantly depending on market conditions. Feel free to develop your trading strategy based on it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
