Technical Indicators for MetaTrader 5
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MetaTrader 5
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Overview
Ultra Band is a trend indicator designed for various type of traders ranging from Scalp to Long Term trader. Because it include the current bar price into the calculation, it looks like the repainting only after the bar closed then it's there forever.
Strategy of choices for trading the Ultra Band:
- BUY at the Lower Band / SELL at the Upper Band then exit when price hit the opposite Band.
- SELL after retracement into Bearish cloud trend or touching the Upper Band, then target the most recent Low
- BUY after retracement into Bullish cloud trend or touching the Lower Band, then target the most recent High
- Using the Upper/Lower Band to confirm the Lower High or Higher Lower
- For risk management, use cloud trend change to decide on exit or keep the trade until price hit SL/TP
Input Setting:
- Band Period : Price period of the current timeframe used in calculating the band.
- Band Deviation : The factor used in calculate the extension of the band.
- Applied Price : The price type that the calculation base on
- Message Alert : Alert the popup message on the terminal with sound
- Email Alert : Send the alert message via email
- Push Notification : Send alert message to the mobile terminal
- Alert Sound : File name of the message alert sound
