TakePropips Bollinger Bands Triple Strategy 1.20

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TakePropips Bollinger Bands Triple Strategy Scanner for Metatrader 4 is a simple, powerful, and effective solution for trading breakouts, reversals, and trend following!


TakePropips Bollinger Bands Triple Strategy Scanner is a simple, powerful, and effective solution for trading breakouts, reversals, and trend following!

This multi-function indicator includes a Statistical Dashboard Panel and a Trend-Detection Scanner. It is designed to provide you trading signals and save you hours analyzing the charts!

Main Features:

  • Automated Entry and Exit Signals – detects buy & sell opportunities and provides you with up to 3 take profits and a stop loss.
  • Trend Scanner – a multi-symbol and multi-timeframe scanner shows the direction of the trend, success rate, and an overall rating. The scannerworkswith all symbols & timeframes….
  • Statistical Dashboard Panel – shows the  entry price, take profit, stop loss, success rate, and total profit/loss of each currency pair so you know exactly the result ….
  • Alerts, Email, and Push notifications – receive notifications when a new buy or sell signals are identified so you never miss another trading opportunity….
  • Customizable, non-repainting, no backpaints – easily customize the color and the layout of the scanner. The indicatorneverrepaintsorbackpaints.
  • Can be used for scalping, intra day trading, and swing trading
  • iCustom integration is available for Expert Advisors to automate the trading signals

TakePropips Bollinger Band Triple Strategy Pro Summary:

Breakout Band Squeeze Strategy

In this strategy, we wait for the price to breakout of the band squeeze (consolidation), and then look to trade in the direction of the breakout. In order to filter out false breakout signal, we need to check the volume so we can use a volume indicator called the Money Flow Index Indicator to check for accumulation during an upside breakout, and distribution during a downside breakout.

Trend Following Band Strategy

In this strategy, we will take a position in the direction of the trend when the price hits the upper or lower bands.

Reversal Band Squeeze Strategy

In this strategy, we wait for the price to enter a band squeeze (consolidation) and for the price to touch either the upper or lower band, and then look to trade in the opposite direction, expecting a reversal back to its moving average. During a consolidation period, the upper band can act as a resistance and the lower band can act as a support.

Note: The scanner will identify a band squeeze when the upper and lower bands falls within the upper & lower ATR Channel (default is 1.5x ATR).

How to setup a trade?

Make your trading much simpler with this 3 simple steps!

1. Trade Analysis

  • Enter a trade if success rate is 70% or greater and the profit shows positive

2. Take Profit

  • Option 1 – Take profit on TP1
  • Option 2 – Partial Take Profit on TP1 and close remaining positions on TP2 and/or TP3
  • Option 3 – Take Profit on opposite signal and ride the trend

3. Stop Loss

  • Option 1 – set your fixed stop loss level based on provided SL value in the dashboard panel
  • Option 2 – exit your buy position on a new sell signal and exit your sell position on a new buy signal

Multi-Timeframe Analysis

To get the best results and generate higher probability of success, you can trade when the higher timeframe and the lower timeframe are in the same trend direction.

Recommended Multi-Timeframe Pairs:

  • M5 -> M15
  • M15 -> H1
  • H1 -> H4
  • H4 -> D1
  • D1 -> W1

The indicator works on all timeframes, forex pairs, indices and commodities.

Indicator Parameters

Bollinger Band Settings – sets the standard deviation & the moving average period of the bands

Bollinger Band Strategy – allows you to choose the Bollinger Band strategy you want to apply on the chart. Options are Breakout Band Squeeze, Reversal Band Squeeze, and Trend Following.

Take Profit & Stop Loss – ability to modify the multiplier of take profit and stop loss. Higher multiplier might result in a lower success rate (recommended is 1.0). You can also disable TP2 and TP3 if you prefer just one take profit and also disable stop loss if you prefer to ride the trend.

Symbols & Timeframes – add the symbols and timeframes you want the scanner to show.

Dashboard Scanner Style – change the layout and color of objects in the scanner.

Chart Style – change the colors and visibility of objects drawn in chart.

Alert Notification – receive alerts via email, mobile push notifications or MetaTrader alerts window when a new buy or sell signals are identified.

Specification: TakePropips Bollinger Bands Triple Strategy 1.20

Product Type

Technical Indicator



Trading Style

Trend Trading

Trading Terminal

Metatrader 4

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TakePropips Indicator Installation Guide.pdf

TakePropips Bollinger Bands Triple Strategy Indicator Manual.pdf

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