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BMA
BMA MetaTrader indicator or Band Moving Average
was created by using the original moving average indicator and the idea from one
of the site's visitors. The indicator displays itself in the form of three
lines: the central one is the standard MT4/MT5 moving average (which can be simple,
exponential or weighted), the upper line is the same as the central one but
lifted up by 2% (by default), the lower line is the same as the central one
but pushed down by 2%. Those two additional lines serve as the support and
resistance levels. The indicator is available for both MT4 and MT5.
Input parameters:
- MA_Period (default = 49) the period of the standard
moving average (central line).
- MA_Shift (default = 0) horizontal shift for all
lines on the chart.
- MA_Method (default = 0) the method for MA drawing.
0 simple moving average, 1 exponential,
2 smoothed, 3 weighted.
- Percentage (default = 2) number of percents
to vertically shift the upper and lower bands compared to the central
line.
The best way to use this indicator is to attach it to EUR/USD H4 chart
(shown in example) and to sell when the price reaches upper band and to buy when
the price reaches lower band. Moderate stop-loss level is advised in both cases
as the price can sometimes break those levels or the lines may change directions
suddenly.
Downloads:
BMA for MetaTrader 4 in .zip
BMA for MetaTrader 4 in .mq4
BMA for MetaTrader 5 in .zip
BMA for MetaTrader 5 in .mq5
Discussion:
Warning! Before you ask any basic questions regarding installation of
the indicators, please, read this
MT4 Indicators Tutorial
to get the elementary knowledge on handling them.
Do you have any suggestions or questions regarding this indicator? You can
always
discuss BMA with
the other traders and MQL programmers on the indicators forums.
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