Sigma Bands Metatrader 4 Forex Indicator

The Sigma Bands forex Metatrader 4 indicator is an advanced Bollinger Bands indicator with a lot of options to choose from.

This indicator has the ability to plot Bollinger bands based on the following types of moving average:

  • Simple moving average
  • Exponential moving average
  • Smoothed moving average
  • Linear-weighted moving average

In up trending markets, the Sigma Bands will point upwards and traders look to open a buy position near the lower support Signam bands.

Vice versa, in down trading markets, the Sigma Bands will point downwards and traders look to open a sell position near the upper Sigma resistance bands.

This is a good indicator for all kind of trading styles.

Free Download

Download the “Sigma_Bands.mq4” MT4 indicator

Example Chart

The AUD/USD H4 chart below displays the Sigma Bands forex indicator in action.

Basic Trading Signals

The Sigma Bands indicator can be traded as follows:

Buy Trade: In an uptrend, look to buy near the lower bands (support)

Sell Trade: In an downtrend, look to sell near the upper bands (resistance)

Trade exit: For long trades, look to take profits near the upper Sigma Bands (resistance)

For short trades, look to take profits near the lower Sigma Bands (support)

Download

Download the “Sigma_Bands.mq4” Metatrader 4 indicator

MTIndicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart pattern

Customization options: Variable (MA Period, Bars for count, Type MA for Bands, Applied price MA, MA color) Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: Bollinger Bands

Installation

Copy and paste the Sigma_Bands.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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