Forex Indicator BOBB v2

BOBB v2

BOBB v2

BOBB v2

BOBB v2

BOBB v2

BOBB v2

BOBB v2

BOBB v2

Very good treatment indicator that shows Bobby v1 breakouts Bollinger Bands, Moving average - MA and the width of the bands. Orange line shows width of the bands, blue line is the difference of the two lines and red line is Moving average - MA. Crossing zeroline to below - Sell, crossing to above - Buy. If you need to reliably project prices under different market conditions, estimate risk on new positions, Forex indicator BOBB v2 is the good indicator.

BOBB v2 MQ4 Code Base (Copy Code)

//+------------------------------------------------------------------+
//|                                                      BOBB_v2.mq4 |
//|                                         Based On Bollinger Bands |
//|                                                   mg@downspin.de |
//+------------------------------------------------------------------+
#property copyright "Copyright @ 2011, downspin"
#property link      "mg@downspin.de"

#property indicator_separate_window
#property indicator_buffers 3
#property indicator_color1 DodgerBlue
#property indicator_color2 Red
#property indicator_color3 Orange
#property indicator_level2 0

extern int    BandsPeriod=20;
extern double BandsDeviations=1.0;
extern int MA_Period=9;

double val[],
       MA[],
       dev[];

int init(){
  SetIndexStyle(0,DRAW_LINE); SetIndexBuffer(0,val);
  SetIndexStyle(1,DRAW_LINE); SetIndexBuffer(1,MA);
  SetIndexStyle(2,DRAW_LINE); SetIndexBuffer(2,dev);
  return(0);
}

int deinit(){return(0);}

int start(){
  double sum,ma;
  for(int i=Bars-IndicatorCounted();i>=0;i--){
    ma=iMA(NULL,0,BandsPeriod,0,MODE_SMA,PRICE_CLOSE,i);
    sum=0.0;
    for(int k=i+BandsPeriod-1;k>=i;k--) sum+=MathPow(Close[k]-ma,2);
    dev[i]=BandsDeviations*MathSqrt(sum/BandsPeriod)/Point;
    val[i]=(Close[i]-ma)/Point;
    MA[i]=val[i]/MA_Period;
    for(int o=1;o<MA_Period;o++) MA[i]+=val[i+o]/MA_Period;
  }
  return(0);
}