Bollinger bands MTF monitor alert indicator

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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

Buit-in Features :

Projectreaper Connect Projectreaper alert indicators have the ability to share their signals with each other to create more accurate trading alerts.

In the settings of our alert indicators, there is a parameter called Indicator_Mode, which switches the indicator modes:



StandAlone - the default mode for receiving alerts about this particular indicator.

MasterFilter - in this mode, the indicator saves the last signal in the terminal, it changes the alert arrows to a hollow body to identify the indicators in this mode. You will not receive any warnings from this mode, it only stores its signals in your terminal.


SlaveSignal
- in this mode, the indicator reads the signals of all indicators in the MasterFilter mode applied to this particular chart window, and sends an alerts when all the signals will coincide in the same direction. To separate the old signals on the chart, the indicator places a vertical line to easily separate the old signals from the new valid signals.

How to use this feature you can check in this article - http://projectreaper.pw/en/how-to-combine-two-or-more-signal-alert-indicators-together/
Projectreaper Trend OS Filters All these filters can be used in various combinations to filter the indicator signals.

Trend Filters parameters



tf_MovingAverage_TrendFilter - enable filter by moving average and current price (if price above the ma it gets buy signal, if below - sell)
tf_MA_TimeFrame - moving average timeframe
tf_MA_Period - moving average period
tf_MA_Method - moving average method (sma, ema, smoothed, linear weighted)
tf_MA_Price - moving average price (close, open, high, low, median, typical, weighted)
tf_MA_Shift - moving average shift
tf_MA_SignalReverse - if true changes direction of signals to reversed


tf_MovingAverageCrossOver_TrendFilter - enable filter by crossover of two moving averages (if the first ma above the second ma - it gets buy signal, if below - sell)
tf_First_MA_TimeFrame - first moving average timeframe
tf_First_MA_Period - first moving average period
tf_First_MA_Method - first moving average method (sma, ema, smoothed, linear weighted)
tf_First_MA_Price - first moving average price (close, open, high, low, median, typical, weighted)
tf_First_MA_Shift - first moving average shift
tf_Second_MA_TimeFrame - second moving average timeframe
tf_Second_MA_Period - second moving average period
tf_Second_MA_Method - second moving average method (sma, ema, smoothed, linear weighted)
tf_Second_MA_Price - second moving average price (close, open, high, low, median, typical, weighted)
tf_Second_MA_Shift - second moving average shift
tf_MA_CrossOver_SignalReverse - if true changes direction of signals to reversed


Oscillator filters parameters



tf_MACD_TrendFilter - enable filter by MACD (if histogram above zero it gets only buy signals, if below - sell)
tf_MACD_TimeFrame - MACD's timeframe
tf_MACD_FastEMA - MACD's fast ema period
tf_MACD_SlowEMA - MACD's slow ema period
tf_MACD_SignalSMA - MACD's signal sma period
tf_MACD_SignalReverse - if true changes direction of signals to reversed


tf_OSMA_TrendFilter - enable filter by OsMA (if histogram above zero it gets only buy signals, if below - sell)
tf_OSMA_TimeFrame - osma's timeframe
tf_OSMA_FastEMA - osma's fast ema period
tf_OSMA_SlowEMA - osma's slow ema period
tf_OSMA_SignalSMA - osma's signal sma period
tf_OSMA_SignalReverse - if true changes direction of signals to reversed


tf_RSI_TrendFilter - enable filter by RSI (if RSI below Low level it gets only buy signals, if above High level - sell)
tf_RSI_TimeFrame - rsi's timeframe
tf_RSI_Period - rsi's period
tf_RSI_High_Level - rsi's high level
tf_RSI_Low_Level - rsi's low level
tf_RSI_SignalReverse - if true changes direction of signals to reversed


tf_Stochastic_TrendFilter - enable filter by Stochastic (if Stochastic below Low level it gets only buy signals, if above High level - sell)
tf_Stochastic_TimeFrame - stoch's timeframe
tf_Stochastic_KPeriod - stoch's K period
tf_Stochastic_DPeriod - stoch's D period
tf_Stochastic_Slowing - slowing
tf_Stochastic_High_Level - stoch's high level
tf_Stochastic_Low_Level - stoch's low level
tf_Stochastic_SignalReverse - if true changes direction of signals to reversed


How to use this feature you can check in this article - http://projectreaper.pw/en/trend-os-filters-indicators-update/
Parabolic SAR filter Filter signals by Parabolic SAR cross timeframe filter.



Filters are connected in parallel to the main signal and allow you to customize your own strategy based on the price position relative to the Parabolic SAR filter.

This filter can be calculated according to the selected timeframe and custom settings.

Parameters



tf_ParabolicSar_TrendFilter - activate Parabolic SAR filter
tf_PSAR_TimeFrame - select timeframe the the filter
tf_PSAR_Step - step parameter of PSAR
tf_PSAR_Maximum - maximum parameter of PSAR
tf_PSAR_Shift - offset from current bar ( 0 is the current bar, 1 is the previous bar, etc. )
tf_PSAR_SignalReverse - reverse signals (swap buy to sell and sell to buy)


How to use this feature you can check in this article - https://projectreaper.pw/en/parabolic-sar-filter-alert-indicators-update/
Day Levels filter Filter signals by levels of the current and previous day.



Filters are connected in parallel to the main signal and allow you to customize your own strategy based on the price position relative to the price levels of the current and previous days.

Parameters



tf_CurrentDayOpenLevel - filter by current day's open price
tf_CurrentDayOpen_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_CurrentDayMedianLevel - filter by current day's median price (HL/2)
tf_CurrentDayMedian_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_PreviousDayOpenLevel - filter by previous day's open price
tf_PreviousDayOpen_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_PreviousDayCloseLevel - filter by previous day's close price
tf_PreviousDayClose_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_PreviousDayHighLevel - filter by previous day's high price
tf_PreviousDayHigh_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_PreviousDayLowLevel - filter by previous day's low price
tf_PreviousDayLow_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_PreviousDayMedianLevel - filter by previous day's median price (HL/2)
tf_PreviousDayMedian_SignalReverse - reverse signals (swap buy to sell and sell to buy)

How to use this feature you can check in this article - https://projectreaper.pw/en/day-levels-filter-alert-indicators-update/
Week Levels filter Filter signals by levels of the current and previous week.



Filters are connected in parallel to the main signal and allow you to customize your own strategy based on the price position relative to the price levels of the current and previous weeks.

Parameters



tf_CurrentWeekOpenLevel - filter by current week's open price
tf_CurrentWeekOpen_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_CurrentWeekMedianLevel - filter by current week's median price (HL/2)
tf_CurrentWeekMedian_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_PreviousWeekOpenLevel - filter by previous week's open price
tf_PreviousWeekOpen_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_PreviousWeekCloseLevel - filter by previous week's close price
tf_PreviousWeekClose_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_PreviousWeekHighLevel - filter by previous week's high price
tf_PreviousWeekHigh_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_PreviousWeekLowLevel - filter by previous week's low price
tf_PreviousWeekLow_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_PreviousWeekMedianLevel - filter by previous week's median price (HL/2)
tf_PreviousWeekMedian_SignalReverse - reverse signals (swap buy to sell and sell to buy)

How to use this feature you can check in this article - https://projectreaper.pw/en/week-levels-filter-alert-indicators-update/
Month Levels filter Filter signals by levels of the current and previous month.



Filters are connected in parallel to the main signal and allow you to customize your own strategy based on the price position relative to the price levels of the current and previous months.

Parameters



tf_CurrentMonthOpenLevel - filter by current month's open price
tf_CurrentMonthOpen_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_CurrentMonthMedianLevel - filter by current month's median price (HL/2)
tf_CurrentMonthMedian_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_PreviousMonthOpenLevel - filter by previous month's open price
tf_PreviousMonthOpen_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_PreviousMonthCloseLevel - filter by previous month's close price
tf_PreviousMonthClose_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_PreviousMonthHighLevel - filter by previous month's high price
tf_PreviousMonthHigh_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_PreviousMonthLowLevel - filter by previous month's low price
tf_PreviousMonthLow_SignalReverse - reverse signals (swap buy to sell and sell to buy)

tf_PreviousMonthMedianLevel - filter by previous month's median price (HL/2)
tf_PreviousMonthMedian_SignalReverse - reverse signals (swap buy to sell and sell to buy)

How to use this feature you can check in this article - https://projectreaper.pw/en/month-levels-filter-alert-indicators-update/
Pips tags We have added a function to display the potential price movement in pips from the last signal.

This will allow you to adjust your focus from candlesticks patterns to price movements.





The ShowPipTags parameter is toggle tags appearance on the chart.

How to use this feature you can check in this article - https://projectreaper.pw/en/pips-tags-indicators-update/
Stop Loss Take Profit levels A new function has been added to display the signal stop loss levels and three take profit levels calculated from the ratio to the stop loss.







New parameters:
ShowTPSL - enable/disable the display of SL and TP levels.
SLBars – the number of bars to calculate the levels
SignalBarRangeSL – additional check of the size of signal candlesticks
MaxSLPips – limit the maximum stop loss value (0 - off)
MinSLPips – minimum stop loss value (0 - off)
MaxTPPips - limit of the maximum take profit value (0 - off)
MinTPPips - minimum take profit value (0 - off)
TP1_Ratio – ratio of take profit to stop loss of the first TP level
TP2_Ratio - ratio of take profit to stop loss of the second TP level
TP3_Ratio - ratio of take profit to stop loss of the third TP level


If you need to set fixed TP or SL, then set both the minimum and maximum values to the fixed value you need.

How to use this feature you can check in this article - https://projectreaper.pw/en/sl-tp-indicators-update/
MetaTrader4 to Telegram Alerts You can automatically receive indicator signals from the MetaTrader terminal in Telegram.



It's simple, and all you need to do is have a telegram account

To do this, you don't need to install any additional programs or connect services, our indicators have supported this functionality since the recent update.

Paste alert code into the TelegramCode parameter and set the TelegramAlerts parameter to true in your indicator settings.

How to use this feature you can check in this article - https://projectreaper.pw/en/metatrader4-to-telegram-alerts/

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 http://xentrader.online/

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

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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!

ПРЕМИУМ PROJECTREAPER ПОДПИСКА

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48 COMMENTS

  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,

    Nic

  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?
    Thanks!

    • 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 http://xentrader.online/ 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….
    **********@gmail.com

    • 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.

    Thanks.

    • 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 ⬇ ⬇

  16. I downloaded and unzipped the file, but it’s still not showing up in Custom Indicators in my MT4…

    • 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.

Comments are closed.