The Bollinger Band Trend indicator displays the current trend of the market analyzing per the set bollinger band parameters. If the market is trending the indicator will display “Trending” on the chart and if the market shows a sideways movement, it will display “Ranging” on the chart. The indicator has inbuilt alerts and notifications. This indicator is useful to identify different market conditions when trading. You can change the bollinger band settings from the indicator inputs tab to your preference.
This is a MetaTrader 4 (MT4) indicator and works with all currency pairs and all timeframes. Once you download and install the indicator, it will appear in your trading chart, like the image shown above.
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