Forex BBMA Dashboard Fx MT4 Indicator:
About the Forex BBMA Dashboard Fx MT4 Indicator
BBMA Dashboard Fx
This is a Multi pair and Multi time frame dashboard. The founder of the system is Mr. Oma Ally, which is a system based from Bollinger Band and Moving Average(BBMA).
BBMA consists of the use of 2 indicators:
- Moving Averages
- Bollinger Bands
BBMA consists of 3 types of entries:
This Dashboard Help you to scan current Extreme and Reentry setup ( MHV not included).
The features of BBMA Dashboard :
1.Current TRENDS in Market Based on BBMA method.
Default Multi Time frame = H4,D1, and Weekly. (Time Frame can be adjust )
for suffix or prefix pairs . You have to edit it manually in Dashboard properties.
2.Average Daily Range and Average Monthly Range of Multi Pairs (ADR/AMR)
Which provides data on a currency pair’s daily volatility. The ADR can be helpful in setting target for positions you are currently in as well. For example, if the ADR shows you that a Forex pair has an average daily range of 85 pips, then it might be wise to tighten up your target if a price move has achieved or is close to this expected range.If the ADR has achieved 70 or 80% of range it’s better to stay out from the trade .3. BB Flat / Squeeze Meter
It’s one of sideway or range detector of price. (You can use this info to decide whether to entry or stay out from trade because when BB Flat it means the market in consolidations with decreasing volatility.
4.Extreme and Reentry Signal
Re-entry is formed after the Rise/Fall of a price or market and the price or
market is now forming a sideways market for a Re-entry.
Uptrend – MA5/10 High acts as resistance. Re-enter sell position when
the market finds MA5/10 High. CS are under the MA5/10 High .
Downtrend – MA5/10 LOW acts as support. Re-enter buy position when
the market finds MA5/10 Low. CS are above the MA5/10 Low .
Symbols : 25 default pairs, you can edit add or remove it manually.(if you have suffix or prefix symbol, you need to add it manually. example : EURUSD.pro/EURUSD.ecn)
Time Frames : Default is 3 TF H4;D1;W1., you can add another 3 TF by setting Range Panel to false.
BB Flat Meter Reading : Choose 1 TF to scan the reading, (must open the same timeframe with setting.
Reentry or Extreme Signal : Choose your own TF to analysis.. Limit to 2 types of TF.(Low Times Frames and High Times Frames)
Important Action Items before Using Dashboard
- For the first time loading Dashboard, it may takes 3-5 minutes to download historical data. For subsequent loading, it only takes a few seconds..
“please note that Multipairs indicators, does not work on the strategy tester, so trying this indicator on mql demo tester will result in nothing”
Disclaimer: this is an indicator scanning the current setup based on BBMA method. Please take your own risk if you take the signal as an Entry to your trades. Understanding the basic of BBMA Method are recommended .
Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)