Best Bollinger Bands for 4 H XAUUSD Chart

How to Add Bollinger Bands XAUUSD Indicators on MetaTrader 4 XAUUSD Charts

Step 1: Open Navigator Window on Gold Trading Platform

Open Navigator window as shown below - Go to 'View' menu (then click it) & then choose 'Navigator' window (click), or From the Standard Tool bar click the 'Navigator' button key or press the key board shortcut keys 'Ctrl+N'

On Navigator panel, choose "Technical Indicators", (DoubleClick)

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Step 2: Expand the XAUUSD Technical Indicators Menu on the Navigator

Expand the menu by clicking the expand button marker (+) or double click the 'indicators' menu, after this the button will appear as (-) and will now display a list as shown below - select the Bollinger Bands indicator from this list of gold indicators so as to add the Bollinger Band gold indicator on the xauusd chart.

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How to Add Custom Bollinger Bands XAUUSD Indicator to MetaTrader 4

If the technical indicator you want to add is a custom Bollinger Bands indicator - for example if the Bollinger Bands technical indicator you want to add is a custom indicator you will need to first add this custom Bollinger Bands indicator on the MT4 platform & then compile custom Bollinger Bands indicator so that the newly added Bollinger Bands custom gold indicator pops up on the list of custom indicators on the MT4 software.

To learn how to install Bollinger Bands indicator on MetaTrader 4, how to add Bollinger Bands indicator panel to MT4 and how to add Bollinger Bands gold custom indicator in MT4 - How to add a custom Bollinger Band xauusd indicator in MetaTrader 4.

Bollinger Bands XAUUSD Technical Indicator Explained

Bollinger Bands Technical Analysis & Bollinger Bands Gold Signals

Bollinger bands are made up of 3 lines. The middle line is a Moving Average - 20 xauusd price period Simple Moving Average - SMA Indicator.

Bollinger bands trading indicators are then plotted at a distance away from the moving average technical indicator. These are the bands which form the lower & upper lines.

The distance where the bands are drawn is decided by another indicator called the standard deviation. Standard deviation is a measure of xauusd price volatility in the xauusd market.

Since the xauusd price volatility keeps on changing, the standard deviations will keep varying, & since Bollinger bands are drawn using the standard deviation the distance of the Bollinger bands will keep on adjusting themselves to the xauusd market volatility.

When the xauusd prices become more volatile, the Bollinger Bands indicators widen - Bollinger Bands contract during the less volatile periods.

The Three Bollinger Bands are designed to encompass the majority of a xauusd price action movement. The middle Bollinger Band forms the basis for the gold trend, typically a 20 xauusd price period simple moving average.

This middle Bollinger Band also serves as the base for the upper and lower Bollinger Bands. The upper Bollinger band's and lower Bollinger band's distance from the middle Bollinger band is determined by xauusd price market volatility. The upper band of this indicator is drawn at +2 standard deviations above the middle Bollinger Band while the lower band is drawn at -2 standard deviations below the middle Bollinger Band.

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Bollinger Bands Technical Analysis & How to Generate Gold Bollinger Bands Signals

• Bollinger Bands provide a relative definition of high and low of xauusd price

• Bollinger Bands are used to identify periods of high & low volatility

• Bollinger Band are used to spot periods when prices are at extreme levels

the Bollinger Bands Squeeze

Bollinger Bands tighten as volatility lessens, this identifies periods of xauusd price consolidation. Sharp xauusd price break outs tend to come after the Bollinger Bands indicators tighten.

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the Bollinger Band Bulge

If xauusd prices break through upper or lower Bollinger Band technical indicator and move outside the Bollinger Band a continuation of the current gold trend is expected.

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Bollinger Bands Reversal Trading Signals

Bottoms & tops made outside the Bollinger Bands followed by bottoms & tops made inside the Bollinger Bands signals for gold reversals in the gold trend

Bollinger Band Whipsaw

Traders should be on lookout for false breakouts known as Bollinger Band whipsaws or Bollinger Band head fakes.

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Gold Price often breaks out in one direction immediately following the Bollinger Bands Squeeze causing many traders to think the xauusd price breakout will continue in that direction, only for xauusd price to quickly reverse and make the true and more significant xauusd price breakout in opposite direction.

Traders acting quickly on the initial xauusd price break out often get caught on the wrong side of the xauusd price action - while those traders expecting a "false breakout" can quickly closeout their original gold trade positions & enter a trade in the direction of the xauusd price reversal. It is always good to combine Bollinger bands indicator with other confirmation xauusd technical indicators.

Best Bollinger Band for 1 Hour XAUUSD Chart - Best Bollinger Bands for 4 H XAUUSD Chart - Best Bollinger Bands for Daily XAUUSD Chart - Best Bollinger Bands for 15 Min XAUUSD Chart - Best Bollinger Bands for 5 Min XAUUSD Chart