BMA MetaTrader indicator or Band Moving Average — was created by utilizing the original moving average indicator and also the concept from certainly one of the website's visitors. The indicator shows itself
in the shape of three lines: the central one could be the standard MT4/MT5 moving average (and this can be simple, exponential or weighted), the top line is equivalent to the main one but lifted up by 2% (by default), the low line may be the identical to the central one but pushed down by 2%. Those two extra lines serve due to the fact support and resistance amounts. The indicator is available for both MT4 and MT5.
Input parameters:
MA_Period (standard = 49) — the period of the standard going average (central line).
MA_Shift (standard = 0) — horizontal shift for several lines in the chart.
MA_Method (standard = 0) — the method for MA drawing. 0 — simple moving average, 1 — exponential, 2 — smoothed, 3 — weighted.
Portion (standard = 2) — number of percents to vertically shift the top of and reduced bands set alongside the main line.
The ultimate way to utilize this indicator is always to connect it to EUR/USD H4 chart (shown in instance) and to sell if the price reaches top band and also to buy whenever price reaches lower band. Moderate stop-loss level is encouraged in both cases as the purchase price can often break those amounts or the lines may alter instructions suddenly.
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