What is the LRMA Bollinger Bands Indicator for MT4?

The LRMA Bollinger Bands Indicator is a technical analysis tool that helps traders determine whether a market is overbought or oversold. It uses two simple bands to track the market’s price: the upper band indicates an overbought market, and the lower band indicates an oversold market.

LRMA Bollinger Bands Indicator

Download the free LRMA Bollinger Bands Indicator

When the bands are close together, this suggests that the market is in a buying mood, and vice versa. The indicator can help make trading decisions based on whether the market will likely go up or down.

How to use LRMA Bollinger Bands Indicator for MT4

This article will explain how to use the LRMAs Bollinger Bands Indicator for Forex trading.

The LRMAs Bollinger Bands indicator is a simple but effective tool that can help you identify opportunities in the market and make profitable trades. To use it, first set up your indicators in MT4 and adjust them to your preferences. Next, could you add the LRMAs Bollinger Bands indicator to your chart and set the appropriate levels? You can do this by clicking on the “Add Indicators” button in your chart window’s “Trading” section.

Once you’ve added the indicator, you’ll need to specify two things: the type of data that you want to use (in this case, volatility) and the timeframe over which you want to look at it (in this case, one day). Next, click on the “Settings” button and configure the settings for the indicator. You’ll need to decide whether you want it to show only positive or negative values and which bands you want it to display. Finally, hit “OK,” and you’re ready to start trading!

LRMA Bollinger Bands Indicator MT4 trading settings

The LRMA Bollinger Bands Indicator is a technical analysis tool that uses moving averages and standard deviations to measure market volatility and forecast potential price movements. It consists of a central line (LRMA) and two outer bands (Bollinger Bands). The LRMA line is a smoothed moving average, while the Bollinger Bands are plotted a certain number of standard deviations above and below the LRMA line.

To set up the LRMA Bollinger Bands Indicator in your MetaTrader 4 (MT4) platform, you can adjust the following settings:

  1. Period: This is the number of periods used to calculate the moving average and standard deviations. A shorter period will result in a more sensitive indicator, while a more extended period will produce a smoother line.
  2. MA method: This setting allows you to choose the type of moving average used to calculate the LRMA line. The available options include Simple, Exponential, Smoothed, and Linear Weighted.
  3. Applied price: This setting determines which price data is used to calculate the moving average and standard deviations. You can choose between the Close, Open, High, Low, Median, Typical, or Weighted price.
  4. Deviation: This is the number of standard deviations used to plot the Bollinger Bands above and below the LRMA line. A more significant variation will result in wider bands, indicating higher volatility, while a minor deviation will produce narrower bands, showing lower volatility.
  5. Shift: This setting allows you to shift the LRMA Bollinger Bands Indicator forward or backward in time. A positive shift value will move the bands forward, while a negative shift value will move them back.
  6. Color: This setting allows you to choose the color of the LRMA line and Bollinger Bands.

To access these settings, right-click the LRMA Bollinger Bands Indicator on your chart and select “Properties” from the context menu. You can then adjust the settings as desired and click the “OK” button to apply the changes.

LRMA Bollinger Bands Indicator Advantages

There are several advantages to using the forex LRMA Bollinger Bands Indicator. These include:

  • – It can help you identify when a currency is over or undervalued, giving you an advantage when trading that currency.
  • – It can help you stay in a trade longer if you belihat the market is about to move in your favor.
  • – It can help you avoid getting too emotionally involved in a trade, which could lead to losses if the market moves against you.

LRMA Bollinger Bands Indicator Disadvantages

There are a few disadvantages to using the forex LRMA Bollinger Bands Indicator. First of all, it can be challenging to get a good enough understanding of the indicator’s workings to use it effectively. Secondly, it can be pretty sensitive, meaning that even small changes in market conditions can cause significant fluctuations in your returns. Finally, it’s only sometimes accurate – which could lead to unwanted losses if you need to be more careful.

LRMA BB Indicator installation on MT4

To install the LRMA Bollinger Bands Indicator on your MetaTrader 4 (MT4) platform, follow these steps:

  1. Download the indicator file. You can search online for various sources to download the LRMA Bollinger Bands Indicator. Some websites offer the indicator for free, while others may charge a fee. Could you download the file in the correct format for your MT4 platform, which is typically a .ex4 file?
  2. Open your MT4 platform and click on the “File” menu at the top of the screen.
  3. Select “Open Data Folder” from the drop-down menu. This will open the folder on your computer where your MT4 platform is installed.
  4. Locate the “MQL4” folder and open it.
  5. Inside the MQL4 folder, you will see a subfolder called “Indicators.” This is where you’ll need to place the downloaded indicator file if you don’t mind.
  6. Copy the downloaded indicator file and paste it into the Indicators folder.
  7. Close the MT4 platform and reopen it to apply the changes.
  8. Once the platform is reopened, click on the “Insert” menu at the top of the chart window.
  9. From the drop-down menu, select “Indicators” and then “Custom” from the submenu.
  10. Scroll down the list of indicators until you see the LRMA Bollinger Bands Indicator. Click on it to select it, and then click the “OK” button.
  11. The LRMA Bollinger Bands Indicator will now be added to your cart. You can customize the settings for the indicator by right-clicking on it and selecting “Properties” from the context menu.

LRMA Bollinger Bands Indicator mt4

LRMA Bollinger Bands Indicator mt4 free download


The LRMA Bollinger Bands Indicator is a popular method for trading currencies that uses two bands to indicate the current price range for the money. The first band is used to indicate the current low point in the price range, and the second is used to indicate the current high end in the price range.

The indicator works by using variations in the width of these bands to signal whether or not a trade should be made. When the bands are narrow, this suggests strong demand for the currency, and prices are likely to continue rising. On the other hand, when the bars are wide, this indicates weak demand for the money, and prices are reasonably to decline.

Overall, this indicator can help detect potential trends in a currency’s prices and provides traders with an early warning system before significant changes occur.

Author: Dominic Walsh

I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Telegram Channel | Quora | Reddit

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