Setting up Bollinger bands in MetaTrader 4
This tutorial shows you how to set up Bollinger bands in MetaTrader 4.
This guide assumes that you have opened a chart.
After reading this guide, you should be able to:
- Add Bollinger bands and set the parameters of this indicator
- Change the parameters
- Remove the Bollinger bands
Add the Bollinger bands and set the parameters of this indicator
- Click Insert and move your mouse over Indicators and Trend
- Click Bollinger bands
![](https://d364wuh8hyfjvy.cloudfront.net/public/images/a86005f3b09143419567528a0c774042.png)
Setting the common parameters
After you have completed the step above, the settings menu appears.
![](https://d364wuh8hyfjvy.cloudfront.net/public/images/690e916d061d47e7954177158b09124f.png)
Most indicators can be controlled by several common parameters.
There are two types of parameters:
- Calculations of the indicator: e.g. the amount of periods used for the Bollinger bands (you do not need to worry too much about this in the beginning)
- Visuals of an indicator: e.g. how it will look, the colour and thickness of the lines, etc.
![](https://d364wuh8hyfjvy.cloudfront.net/public/images/155f13707fed4520910facc997097f80.png)
Changing parameters at a later time
To change the settings of the indicator directly on the chart at a later date:
- Right-click the Bollinger bands (you will have to be exact on the line of the indicator to get the menu seen below)
- Choose Bands(20) Properties – The (20) is the respective parameter (Periods) and can differ, depending on your choice when setting the parameters.
![](https://d364wuh8hyfjvy.cloudfront.net/public/images/b1058e73adfc43129f0baf812863379b.png)
The parameter menu appears again where you can change the indicator.
![](https://d364wuh8hyfjvy.cloudfront.net/public/images/41390277d5664e11b657be02c9641ff4.png)
Deleting an indicator
To delete the Bollinger bands:
- Right-click the indicator that you want to delete (you will have to be exact on the line of the indicator to get the menu shown below).
- Click Delete Indicator.
![](https://d364wuh8hyfjvy.cloudfront.net/public/images/77e6ce06b0124963b2d8e46b52985523.png)
The Bollinger bands disappear from your chart.
![](https://d364wuh8hyfjvy.cloudfront.net/public/images/6e02bce23c634e68ad7fec1a7dbe4bab.png)