Bollinger bands MTF monitor alert indicator



Hi everyone,
with you mqldev, as always

Multi-timeframe Bollinger bands indicator.

updated version of the old indicator of 2017, which I made for a trader from the US in instagram talk, to trade in majors and options to them, Vitaly in the comments reminded me that I have wanted to update it, so download the latest version and test it.

What is changed compared to the old version:

bollinger bands indicator signals alert breakout

bollinger bands indicator signals alert

Added a cross timeframe signal monitor on the chart, it duplicates all signals received from the indicator from all timeframes for the current pair.

Removed the old logic signals, instead introduced a list of logic

Supported Features :

Projectreaper ConnectUSER GUIDE
Projectreaer Trend OS FiltersUSER GUIDE

Settings :

bollinger bands alert indicator settings new

NO_ALERTS – no signals at all just indicator on a chart
OUTSIDE_OF_BB_RANGE – current price out of BB range
BREAK_OUT_BB – breakout BB range (first signal candle, the classic scheme of logic)
FAKE_BREAK_OUT – fake breakout so when the candle break BB range and the next candle is closing in the range back
BREAK_IN_BB – this is break in signal from outside bb range to the middle prices

inverted signals to follow the price breakouts

INVERTED_OUTSIDE_OF_BB_RANGE – inverted signal on current price out of BB range
INVERTED_BREAK_OUT_BB – inverted signal on breakout BB range (first signal candle, the classic scheme of logic)
INVERTED_FAKE_BREAK_OUT – inverted signal on fake breakout so when the candle break BB range and the next candle is closing in the range back
INVERTED_BREAK_IN_BB – inverted signal on this is break in signal from outside bb range to the middle prices

BREAK_BB_RANGE – combination of break out and inverted break in signals
INVERTED_BREAK_BB_RANGE – combination of inverted break out and break in signals

An additional signal modifier Candles_Flip has been added, by default it is set to NO, if you select YES, i.e. enable it, an additional condition for changing the direction of candlesticks will be added to any of the signals: for buy signals – a bearish candle to a bull, for sell signals – a bullish candle to a bearish.

In the MTF_Alerts parameter you can list the timeframes from which you want to receive alert notifications m1 m5 m15 m30 h1 h4 d1 w1 mn separated by spaces

If you want to work only with the current timeframe, leave this parameter empty.

If you want to work with current candle signals just switch Calculation parameter from PREVIOUS_CANDLE to CURRENT_CANDLE method.

bollinger bands alert mtf indicator

If you need automated trading by bollinger bands indicator use Xentrader_Bollinger_Bands signal in Xentrader Online EA, follow the link

Good trading to all!

15.06.2017 fixed M1 bug. Valven444 thank you for your bug report with YouTube.

26.06.2018 Changed at the request of the Scalp.fx now allsignals will alert you when the bar closes outside the Bollinger bands range

01.11.2018 code and logic refactoring

28.11.2019 added historical signals arrows and four new inverted signals

25.01.2020 added Calculation method switcher from previous candle to current candle signals

01.02.2020 added two combined break in and break out signals by request of our user Nick Salvador

06.03.2020 added new parameter InpBandsPipsOffset – this offset also affects to the signals and print two dotted lines with offset from indicator’s low and high bands


How to install :

1. Download file
2. Unzip archive and copy the MQL4 folder from the archive to your terminal Data folder
3. Restart terminal and apply the indicator to a chart
4. Register a valid email with single time donation or log in with previously registered email address.
5. You can switch your broker account any time you need by logging in with previously registered email address

How to find Data folder :

in the terminal click File menu – Open Data Folder

Good trading!

If you need help

Write down comment or use the feedback button


  1. Hello projectreaper Team ,

    I seen this indicator and it look like that this indicator is better than many things can you please add one more thing in this buffer value for call and put signal so that i can automate this indicator with my auto trading setup to check capacity of this indicator ?

    Many thanks in advance. Keep up your Good Work !

    • Hi! if you using automation the better way is to do not call a custom indicator for bb signals trading, use just calculation from expert advisor instead.

  2. Hi MQLDev,
    Using and testing this BB indicator Alert.
    Please advise if possible to have at least two alerts.. Ex. BB Break in and BB Break out or other combinations as per your dropdown list.

    Cause I do using two Alerts in and out, direct or inverted but using two charts, one is showing in alerts and other out alerts, but if I could have in both in a single chart, that may do better and lesser my windows open.

    Thanks and regards,


  3. Hi Sir, very nice update you make it. I have 2 question;

    1) BREAK OUT BB means signal when price close outside top & low BB?
    2) Can i change BB deviation to default BB deviation (2.0)?

  4. Very great indicator! Would it be possible to add an extra option that will allow to send the signal only if RSI is in a specific range?

    • Yep I understand your input but this is simple indicator I don’t want over complicate it. This is already have a lot of options if I add another four settings this is would be too much I think.

  5. Hello,

    This is very AMAZING indicator, I have made profit on it in just a few days I’ve been using it, but because of the color of my charts and another indicator I use, the arrows of “Projectreaper Bollinger bands MTF alert” indicator paints inside of an area that is the same color as the arrow and I can not see it, would it be possible to make the arrow color, arrow size and distance from candle input options? This would be a very helpful feature only enhancing the indicator for better use.

    Thank You in Advance

    • I see, yep for sure I will add the colors picker in the settings and also our russian users asked to add option to choose type of the price (open, close, high, low) for calculation of the indicator. at the moment our team making new service for automation of trading with international community, team trading straight up from the charts here we want to meet traders from all around of the world in your charts – it’s still in the process so far so good, after official launch I will return to add the features to the indicator.

  6. Hello,

    Great Indicator, I am also interested in the below feature, has it been added yet?

    “Eric September 16, 2018 at 6:15 pm – Is it possible to code an indicator that will alert when: the first candle has opened inside the bands and closed outside the bands and then another candle then opens outside the bands but closes inside the bands in the opposite direction?”

  7. Is it possible to code an indicator that will alert when: the first candle has opened inside the bands and closed outside the bands and then another candle then opens outside the bands but closes inside the bands in the opposite direction?

    • Hi, Eric
      yes it’s possible, it need revision of that indicator, I planned to update this indi after new online service developing process currently I’m in. By the way Xentrader software have that BreakIN bollinger kind of trading signals, when I add this to the freeware bollinger indicator I will send you email about that.

  8. PLEASE EMAIL ME URGENT: this indicator only alerts on the second candle to close outside the bands. I NEED one to alert me on the first candle to close outside the bands man.

    please email me bro to have this made.

    • This indicator is alert you only when bar opened and closed outside of the bands. So the first should penetrate the band line and the second bar if not closed inside the bands range will send the alert. This is for AllSignals parameter set to true.

  9. Hi bro. Thanks for making this indicator. I have a question that im confused about.

    Which option do i use to get an alert as soon as a candle closes outside of the bands.

    • Hi.
      To set the alerts you need to set timeframes, allsignals parameter to true, and set to true the needed alerts types mail push etc.

  10. Thanks for your kind reply sir.. Actually I had lost my hard earned money.. I mean very big loss.. Now I am totally zero… I lost my all money in this forex.. Till now I am searching for the good profitable system… If anyone help to recover my All loses… Please share your profitable system to my mail id sir….

    • Sent you email. Hope it solves your problem.
      Do not show your email publicly there’s many spam bots and scams out there.

  11. Hello sir.,
    I have checked this indicator. Forward test and backtest(strategy tester) the arrows are disappearing… While comparing forward test there are somany arrows.. But in backrest one arrow only showing… So it means that this is also repainting indicator sir….

    • Pay attention the delete arrows parameter first. And the indicator have three signal logic read carefully. And the last thing – in strategies tester of mt4 terminal work with multiple timeframes are incorrect you should keep in mind that. First of all this is alert indicator originally made by request for binary trader to have alerts in a phone from all timeframes bollinger bands.

  12. Hi,
    Thanks for your contribution, many traders like me is looking for same and, yes it is what w want.
    I had downloaded and installed and set alerts, arrows, signals to be true and on testing it doesn’t show any arrows. I tried all options what you mentioned here but nothing worked. Can you please provide tutorials or guideline in which it is shown how it worked, so from next time if anybody have any problem in working with indicator can take reference of it.


    • Hello, Jim.

      This indicator I’ve made by request from binary trader and yes it have special logic.
      Arrows drawing only for current timeframe and only for current signals it means first arrow will appear when new signal will formed.
      In the case if you using multiple timeframes in the settings of the indicator all other timeframes signals will be sent you as alerts only.
      If you want to test it on strategies tester just enable Draw_Arrows parameter and let the price to form some signals with arrows.

  13. Hi Sir, 1st of all thanks for the super-nice indicator.

    1 question, which signal i have to choose if i want signal when candle closed outside BB?

    • Hello. You can turn to true AllSignals option in the case if you want to receive signal about all candles closed out of bb range this option overwrite OnlyStrong signals setting.

      OnlyStrong signals means if price break out bb range and next candle closed reversal to the range, for example: price break out higher bb line with bullish movement and next bearish candle closed higher high bb line would be signal.

      In timeframes option choose which timeframes do you need to analyze or leave it blank to work only in current tf. Good day!

  14. Hi,

    I am receiving alerts via email however no arrows are appearing?

    The arrows have been set to True and the Delete to False.

    Please help.

    • Hello! Arrows drawing only for current timeframe signals other timeframes are only alerting. If you want to trade only on current timeframe just leave blank timeframes option in the settings.

  15. Hi! There is a variavle “Alert” with value “Alert setting” so should i input here smth to be notifed? Cuz there is no sound alert when the signal is.

    • Hi. So when you changing the settings you need just press OK button in the indicators properties window. It should be saved and applied in that case. Also you can save it to a file and load by pressing load and save buttons.

      You can find official mt4 terminal help docs link in the right side bar of the site in desktop browser ➡ ➡
      Or below in mobile browser ⬇ ⬇

    • Hi.
      1. You need to copy the file to you mt4 indicators directory.
      2. You need to restart mt4 terminal or refresh list of indicators by clicking right mouse button on the list and choosing menu command refresh.

    • Hey there.

      If you want to receive the signals you should turn to true needed signal settings. This Indicator drawing arrows at new signal forming. The better way to understand how it works is to use strategies tester it will save your time in matching settings to your trading style.


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