ParMA BB Indicator
Forex BUY and SELL signals from the best ParMA_BB Indicator. Draws a Moving Average on the chart.
Description
The ParMA BB Indicator is a simple MT4 indicator that tells about the trend’s direction. The ParMA BB Indicator comprises two popular indicators; Moving Average and Bollinger Bands. The indicator’s default settings set the BB to false. So, it doesn’t show BB.
For the MA, the Indicator has a period of 30. You can also change the period of the MA. Indicator plots a single MA line with BB set to false to tell the trend’s direction. It works like a regular MA with the line moving above or below the price.
ParMA BB Indicator BUY/SELL signals
The above EUR/USD H4 chart shows the BUY and SELL signals for the indicator. To determine the BUY and SELL signals, traders need to look at MA. When the price moves above the MA, it presents the BUY signal. On the other hand, it’s a SELL signal when the price moves below the MA.
As mentioned earlier, the Bollinger Band is set to false by default. So, traders can set it true to show the BB along with the MA. It can provide signal confirmations.
Conclusion
The ParMA BB Indicator for MT4 is a simple indicator that combines BB and MA. It works like a regular moving average for the direction of the trend. In addition, you can download the indicator for free from our website.