Weighted deviation bands

Weighted deviation bands

Weighted deviation bands MT5 indicator for multiple cycles. The indicator helps to identify potential trading opportunities in different time frames.

Variation of the Bollinger bands but it uses linear weighted average and weighted deviation (see the description of weighted deviation here : Weighted deviation )

Weighted deviation bands

Weighted deviation bands

Recommendations:

  • Use it as any Bollinger type indicator

How to install Weighted deviation bands Indicator in MetaTrader 5 Forex Trading Platform?

  • Extract the downloaded Weighted deviation bands Indicator.zip file.
  • In the MetaTrader 5 trading platform, go to the “File” menu and click “Open Data Folder”.
  • Navigate to the MQL5 folder and open the Indicators folder.
  • Paste the Weighted deviation bands Indicator.ex5 file(s) into the Indicators folder.
  • Restart the MetaTrader 5 platform.

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