BB_OutsideCandle_Alert Indicator For MT5

BB_OutsideCandle_Alert Indicator For MT5

The BB_OutsideCandle_Alert Indicator For MT5 is a signal indicator that places signal labels and paints signal candles as and when price breaks through the Bollinger Bands. The indicator provides traders with the option to choose from two Bollinger Band breakdown methods:

1. Price opening inside the Bollinger Bands and closing outside;

2. Price opening and closing outside the Bollinger Bands.

If the indicator parameter, Show signal candles, is set to Yes, a bullish candle outside the lower Bollinger Band is colored Green, while a bearish candle outside the upper Bollinger Band is painted Orange.

Trading signals generated by the BB_OutsideCandle_Alert Indicator For MT5 seem to perform relatively better if they are in line with the dominant market trend.

FREE BB_OutsideCandle_Alert Indicator

Download the FREE BB_OutsideCandle_Alert Indicator for MT5.

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Installing the BB_OutsideCandle_Alert Indicator For MT5

After you downloaded the indicator via the form above you need to unzip the zip-file. Then you need to copy the file BB_OutsideCandle_Alert.mq5 into the folder MQL5\Indicators of your MT5 installation. After that please restart MT5 and then you will be able to see the indicator in the list of indicators.

Parameters of the BB_OutsideCandle_Alert Indicator For MT5

The BB_OutsideCandle_Alert Indicator For MT5 has 6 parameters to configure.

input uint              InpPeriodBB    =  12;                  // BB period
input double            InpDeviation   =  2.2;                 // BB deviation
input ENUM_MODE_OP_CL   InpModeCandle  =  MODE_CANDLE_OUTSIDE; // BB line breakdown method
input ENUM_INPUT_YES_NO InpShowBands   =  INPUT_YES;           // Show bands
input ENUM_INPUT_YES_NO InpShowCandles =  INPUT_YES;           // Show signal candles
input ENUM_INPUT_YES_NO InpShowAlerts  =  INPUT_YES;           // Use alerts

Buffers of the BB_OutsideCandle_Alert Indicator For MT5

The BB_OutsideCandle_Alert Indicator For MT5 provides 10 buffers.

SetIndexBuffer(0,BufferSigB,INDICATOR_DATA);
SetIndexBuffer(1,BufferSigS,INDICATOR_DATA);
SetIndexBuffer(2,BufferBandUP,INDICATOR_DATA);
SetIndexBuffer(3,BufferBandDN,INDICATOR_DATA);
SetIndexBuffer(4,BufferCandleO,INDICATOR_DATA);
SetIndexBuffer(5,BufferCandleH,INDICATOR_DATA);
SetIndexBuffer(6,BufferCandleL,INDICATOR_DATA);
SetIndexBuffer(7,BufferCandleC,INDICATOR_DATA);
SetIndexBuffer(8,BufferColors,INDICATOR_COLOR_INDEX);
SetIndexBuffer(9,BufferBB,INDICATOR_CALCULATIONS);

Main Parts Of The Code

int OnCalculate(const int rates_total,
                const int prev_calculated,
                const datetime &time[],
                const double &open[],
                const double &high[],
                const double &low[],
                const double &close[],
                const long &tick_volume[],
                const long &volume[],
                const int &spread[])
  {
//--- #AB0= gt 2:0  lt 0AA82 gt 2 1CD5@ gt 2 :0: B09 lt A5@89
   ArraySetAsSeries(open,true);
   ArraySetAsSeries(high,true);
   ArraySetAsSeries(low,true);
   ArraySetAsSeries(close,true);
   ArraySetAsSeries(time,true);
//--- @ gt 25@:0 : gt ;8G5AB20 4 gt ABC?=KE 10@ gt 2
   if(rates_total lt 4) return 0;
//--- @ gt 25@:0 8 @0AGQB : gt ;8G5AB20 ?@ gt AG8BK205 lt KE 10@ gt 2
   int limit=rates_total-prev_calculated;
   if(limit gt 1)
     {
      limit=rates_total-2;
      ArrayInitialize(BufferSigB,EMPTY_VALUE);
      ArrayInitialize(BufferSigS,EMPTY_VALUE);
      ArrayInitialize(BufferBandUP,EMPTY_VALUE);
      ArrayInitialize(BufferBandDN,EMPTY_VALUE);
      ArrayInitialize(BufferCandleO,EMPTY_VALUE);
      ArrayInitialize(BufferCandleH,EMPTY_VALUE);
      ArrayInitialize(BufferCandleL,EMPTY_VALUE);
      ArrayInitialize(BufferCandleC,EMPTY_VALUE);
      ArrayInitialize(BufferColors,2);
      ArrayInitialize(BufferBB,0);
     }
//---  gt 43 gt B gt 2:0 40==KE
   int count=(limit gt 1 ? rates_total : 1),copied=0;
   copied=CopyBuffer(handle_bb,UPPER_BAND,0,count,BufferBandUP);
   if(copied!=count) return 0;
   copied=CopyBuffer(handle_bb,LOWER_BAND,0,count,BufferBandDN);
   if(copied!=count) return 0;

//---  0AGQB 8=48:0B gt @0
   static datetime last_time=0;
   string alert="";
   for(int i=limit; i gt =0 && !IsStopped(); i--)
     {
      BufferCandleO[i]=BufferCandleH[i]=BufferCandleL[i]=BufferCandleC[i]=EMPTY_VALUE;
      if(InpModeCandle==MODE_CANDLE_INSIDE_OUT)
        {
         //--- Bearish. Candle opening inside the bands and closing above the upper bollinger band
         if(open[i+1] lt BufferBandUP[i+1] && close[i+1] gt BufferBandUP[i+1])
           {
            BufferSigS[i]=high[i];//fmax(open[i+1],fmax(open[i],BufferBandUP[i]));
            if(InpShowCandles)
              DrawColorCandle(i+1,open,high,low,close);
            //--- Alert after the last Close of a candle
            if(i==0 && InpShowAlerts && time[0] gt last_time)
              {
               Alert(Symbol()+" "+TimeframeToString(Period())+": Bollinger Bands Outside Candle SHORT Signal");
               last_time=TimeCurrent();
              }
           }
         //--- Bullish. Candle opening inside the bands and closing below the lower bollinger band
         if(open[i+1] gt BufferBandDN[i+1] && close[i+1] lt BufferBandDN[i+1])
           {
            BufferSigB[i]=low[i];//fmin(open[i+1],fmin(open[i],BufferBandDN[i]));
            if(InpShowCandles)
              DrawColorCandle(i+1,open,high,low,close);
            //--- Alert after the last Close of a candle
            if(i==0 && InpShowAlerts && time[0] gt last_time)
              {
               Alert(Symbol()+" "+TimeframeToString(Period())+": Bollinger Bands Outside Candle LONG Signal");
               last_time=TimeCurrent();
              }
           }
        }
      else
        {
         //--- Bearish. Candle opening and closing above the upper bollinger band
         if(open[i+1] gt close[i+1] && close[i+1] gt BufferBandUP[i+1])
           {
            BufferSigS[i]=high[i];//fmax(open[i+1],fmax(open[i],BufferBandUP[i]));
            if(InpShowCandles)
              DrawColorCandle(i+1,open,high,low,close);
            //--- Alert after the last Close of a candle
            if(i==0 && InpShowAlerts && time[0] gt last_time)
              {
               Alert(Symbol()+" "+TimeframeToString(Period())+": Bollinger Bands Outside Candle SHORT Signal");
               last_time=TimeCurrent();
              }
           }
         //--- Bullish. Candle opening and closing below the lower bollinger band
         if(open[i+1] lt close[i+1] && close[i+1] lt BufferBandDN[i+1])
           {
            BufferSigB[i]=low[i];//fmin(open[i+1],fmin(open[i],BufferBandDN[i]));
            if(InpShowCandles)
              DrawColorCandle(i+1,open,high,low,close);
            //--- Alert after the last Close of a candle
            if(i==0 && InpShowAlerts && time[0] gt last_time)
              {
               Alert(Symbol()+" "+TimeframeToString(Period())+": Bollinger Bands Outside Candle LONG Signal");
               last_time=TimeCurrent();
              }
           }
        }
     }

//--- return value of prev_calculated for next call
   return(rates_total);
  }
//+------------------------------------------------------------------+
//| Timeframe to string                                              |
//+------------------------------------------------------------------+
string TimeframeToString(const ENUM_TIMEFRAMES timeframe)
  { 
   return StringSubstr(EnumToString(timeframe),7);
  }
//+------------------------------------------------------------------+
//| Draw Color Candle                                                |
//+------------------------------------------------------------------+
void DrawColorCandle(const int shift,const double &open[],const double &high[],const double &low[],const double &close[])
  {
   BufferCandleO[shift]=open[shift];
   BufferCandleH[shift]=high[shift];
   BufferCandleL[shift]=low[shift];
   BufferCandleC[shift]=close[shift];
   BufferColors[shift]=(open[shift] lt close[shift] ? 0 : open[shift] gt close[shift] ? 1 : 2);
  }
//+------------------------------------------------------------------+

 

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