Race Band Indicator - Bollinger Band Touch Trading System

Overview

The Race Band is a powerful MT4 indicator that combines Bollinger Bands® with specialized entry signals to identify high-probability trading opportunities. It provides clear visual alerts when price touches or breaks through the bands, offering both reversal and breakout trading opportunities.

Key Features

✅ Dual Bollinger Band System - Tracks upper and lower bands with adjustable settings

✅ Entry Signals - Arrows mark potential trade entries (blue up arrows for buys, red down arrows for sells)

✅ Touch Alerts - Visual/audio/email alerts when price touches bands

✅ Multi-Timeframe Support - Works on all timeframes from M1 to monthly

✅ Customizable Alerts - Configure popup, sound, email and mobile notifications

How It Works

The indicator uses a two-step approach:

1. Band Touches (Initial Signal)

Red diamond (167) appears when price touches upper band (potential sell)

Blue diamond (167) appears when price touches lower band (potential buy)

2. Confirmed Entries (Follow-Up Signal)

Green up arrow (236) confirms buy when price pulls back from lower band then moves up

Red down arrow (238) confirms sell when price rejects upper band then moves down

Indicator Settings

ParameterDescriptionRecommended Value

BobaPeriodBollinger Band period20 (default)

BobaDeviationsStandard deviations2.0 (default)

SIGNALBARWhich bar to check for signals1 (most recent closed bar)

AlertsMessageEnable popup alertstrue/false

AlertsSoundEnable sound alertstrue/false

SoundFileAlert sound file"news.wav"

How to Trade with Race Band

Buy Rules

Wait for blue diamond at lower band

Confirm with green arrow on pullback

Enter long with stop below recent low

Target next resistance or upper band

Sell Rules

Wait for red diamond at upper band

Confirm with red arrow on rejection

Enter short with stop above recent high

Target next support or lower band

Best Trading Conditions

Works best in trending markets

Avoid during flat/choppy conditions

Most reliable on H1 and higher timeframes

Indicator Philosophy

🔹 "Trade the bands - when price races to the edges, prepare for the rebound!"

This indicator is perfect for traders who want to:

Catch mean reversion trades at band extremes

Trade breakouts with confirmation

Automate their alert system

Pro Tips

Combine with RSI - Only take buys when RSI 30 and sells when RSI 70

Adjust Deviations - Use 1.5 for tighter ranges, 2.5 for more volatile instruments

Timeframe Synergy - Check alignment on higher timeframe for stronger signals

🚀 Example Setup:

H4 chart

BobaPeriod=20, Deviations=2.0

Only take signals that align with daily trend