Comments on: Doda-Bollinger Bands indicator for MetaTrader4

By: Rizal

Rizal — Sun, 15 Jan 2012 17:29:07 +0000

Hi, Rizal again here. I need your advice regarding retracement from the point of Entry using the bollinger indi. I notice that sometimes it retrace quite a lot +-100pips after the first point of Entry using the indi(even though it will follow the direction of the Bollinger Band most of the time). It just that sometimes due to big retracement I get a little bit emotionally affected(Its my first time trading at H4 just to let you know). Ok my questions;
1- Is there any method that you use just to avoid the big retracement.
2-If the Bollinger Band appear and as you said using the band itself as Stop Loss; Ok what happend if the Stop Loss quite big eg: +-300pips.. Will you still take the trade or just enter after any suitable retracement.
Thank you again for you help. Really appreciate your time and efford for sharing it to everyone here. Especially newbie like me… Tq

By: admin

admin — Sat, 14 Jan 2012 14:42:47 +0000

Hello,
EURUSD currency pair is the most stable currency pair i.e. it moves in defined way. So, these indicators gives best signals there. Others have no rules. You can try it on EURGBP.
Hope it will help you.
Admin

By: Shazwan

Shazwan — Fri, 06 Jan 2012 16:38:28 +0000

Hi, I have been using your method for a while and so far i have been making profit by just using your bollinger indi using EU pair. My question is, is there any suggetions on which other Pairs that work best with this Bollinger indi? Can you please name a few so that I can try it out. Anyway thank you so much for your effort.. God Bless You…

By: admin

admin — Thu, 05 Jan 2012 05:02:28 +0000

Thanks for positive feedback. It’s better to use trailing stop-loss if you’re a full time trader. Otherwise, use the value of Doda-Bollinger Bands itself.
Hope it will help you.
Admin

By: Rizal

Rizal — Sun, 01 Jan 2012 09:41:23 +0000

Hi, thank you with your doda-Bollinger band. I never tried trading using H4 chart.. But now I look at it differently.. better trading view. But I have 1 question, where did you usually put your stop loss? Previous H/L or at the Band it self… which one better base on your experiance.. thanks again for sharing…

regards,
Rizal

By: admin

admin — Fri, 02 Dec 2011 04:00:56 +0000

Take call when the price CLOSES above Doda-Bollinger Bands and not before that.
Hope it will help you.
Admin

By: biswajit dhir deo

biswajit dhir deo — Wed, 30 Nov 2011 15:48:22 +0000

hello,
im trading forex for the last 2 years with moderate success, i came across dodabollinger and found that good but i have an issue once the indicator shows an indication it changes color in the same candle thus making me confused as to which indication to follow. i mean say i have chosen 1 hour time frame and it showed a buy entry then i see the indicator is showing sell signal in the same candle. so, which entry to follow. Regards, Biswajit

By: admin

admin — Thu, 13 Oct 2011 03:30:40 +0000

The default settings works best. Do not change them. You’ll get good results in H4 time frame. If you want to do experiments in different time frame or settings, you can do that.
Hope it will help you.
Admin

By: Robert

Robert — Wed, 05 Oct 2011 04:57:38 +0000

Hi,
This is truly a great redesign job on a confusing indicator. I really love this approach. I have some questions about settings.
What effect do Length, Deviation and Money Risk have when the variables are changed?
Could you describe the function of each and how changing them affects performance?
Sincerely,
Robert

By: Alan

Alan — Wed, 21 Sep 2011 22:57:18 +0000

I realize it’s been awhile since reddy posted his/her question, but if there are any newbee’s wanting to know how to install an indicator into the MT4 platform- here goes. After you have downloaded the indicator to your computer into a folder just for MT4 downloads keep it there just encase you need to reinstall it. Next right click and copy the indicator, then go to where you have the MT4 program installed. It will most likely be in the “Program Files” folder most likely under the name of your broker. Open the folder, next open the “Experts” folder (Note:this is where you would paste an EA- in the “Experts” folder), then open the “Indicators” folder. Now, right click on a blank area within this folder and paste. At this point you have two choices. (1) If the MT4 platform is running, close the platform and re-open it. The indicator will be listed in the “Custom Indicators” under the Navigator sector of the MT4 platform. Choice (2), Right click on the indicator in the “Indicators” folder of the MT4 program folder where you pasted the indicator at and click “open with” > “MetaEditor”. When the MetaEditor program launches it will have opened the indicator programing section. (This is where you write and edit programs for the indicators and the EA’s. So be careful doing any changes here until you know what you are doing. ) Now place the cursor over a blank area of the program and right click, then click on “Compile”. The indicator is now listed in the “Custom Indicator” folder in the MT4 platform. (This second choice eliminates the need to close and open the MT4 platform if it’s running.) You can now close the MetaEditor. You can also close the folder for the MT4 program at any time. To install the indicator onto a chart just drag and drop onto a chart from the “Custom Indicator” folder from within the MT4 platform. Hope this helps.