Pressing CTRL + I on the computer keyboard will open a window that lists all indicators on the active chart, as shown in Figure 8. To change the inputs for Bollinger Bands® (or any other indicator), highlight Bollinger Bands® and click "Edit." This action will open the same window that was used to identify the original inputs, including the tabs for Parameters, Levels and Visualization. Make any desired changes and click "OK" to close the window. The new inputs will be reflected in the Bollinger Bands® indicator.

SEE: Profiting From The Bollinger Squeeze

Figure 8: Press CTRL + I on the computer keyboard, highlight Bollinger Bands® and Click "Edit" to modify the indicator\'s settings.

Deleting Bollinger Bands®
To remove Bollinger Bands® from a price chart:
  • Press CTRL + I on the computer keyboard, highlight Bollinger Bands® and click "Delete"; or
  • Right-click the indicator within the price chart and select "Delete Indicator," as shown in Figure 9. The indicator will be removed without a prompt or any further action.

Figure 9: To remove Bollinger Bands® from a price chart, right-click on the indicator and select "Delete Indicator."


Conclusion
The MetaTrader 4 trading platform supports the use of dozens of traditional and an unlimited number of custom indicators. Each indicator typically has multiple customization inputs, allowing traders to define both the appearance and performance functions of the indicator. The Bollinger Bands® technical indicator is both popular and effective because its adaptive calculations react quickly to changing market conditions. As with any technical indicator, the Bollinger Bands® settings need to be optimized for the particular instrument, timeframe and user's trading style.






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