Target Bands Indicator

📌 Channel-Based Tool – Detects optimal zones for trend reversal.
📌 Upper & Lower Bands – Act as overbought/oversold zones.
📌 Breakout Reversal Signals – Price tends to return to bands after breakout.
📌 Built-In Buy/Sell Alerts – Star signals for trade entries.
📌 Ideal for Scalpers & Intraday Traders – Works best on lower timeframes.

📌 Identifies Reversal Zones

  • Upper and lower bands mark overbought and oversold areas for potential trend reversals.

📌 Breakout & Pullback Behavior

  • After breaking a band, price often returns to the channel, signaling exhaustion.

📌 Smart Algorithm

  • Uses a 55-bar look-back period to evaluate historical price behavior and detect high-probability reversal zones.

📌 Built-In Entry Signals

  • Displays star markers above or below candles to indicate buy/sell opportunities.

📌 Price Action Synergy

  • Works best when combined with candlestick patterns and other technical indicators for confirmation.

📌 Ideal for Active Traders

  • Designed for scalping and day trading strategies on intraday charts.

📌 Practical Example

  • Buy setup: Price breaks the lower band, forms wick rejections, a buy star appears, and a bullish engulfing pattern confirms entry.

  • Sell setup: Same logic applied in the opposite direction.

📌 Free & Easy to Use

  • Compatible with all MetaTrader 4 instruments including forex, stocks, and commodities.

Input Settings & Controls

📌 Time Frame

  • Allows you to select the timeframe for calculation. Can use the current chart timeframe or a custom one for multi-timeframe analysis.

📌 Half Length

  • Defines the look-back period (in bars) used to calculate the bands. A higher value makes the bands smoother and less sensitive, while a smaller value makes them more reactive.

📌 Price

  • Specifies which price source to use for calculation (e.g., Close, Open, High/Low, Weighted, etc.).

📌 Bands Deviations

  • Sets the deviation multiplier for the band width. Higher values make the channel wider; lower values make it tighter.

📌 Interpolate

  • When enabled, smooths the bands visually between timeframes for better appearance on charts.

📌 Alerts On

  • Turns all alert notifications on or off.

📌 Alerts On Current

  • Sends alerts only on the current candle (not on every tick).

📌 Alerts On High/Low

  • Triggers alerts when price touches the high or low bands.

📌 Alerts Message

  • Enables pop-up alert messages in MetaTrader.

📌 Alerts Sound

  • Plays a sound alert when conditions are met.

📌 Alerts Email

  • Sends an email notification when a signal occurs.

Devices Supported

Device Type Operating System Compatibility with TradingView
💻 Windows Laptop/Desktop Windows XP / Vista / 7 / 8 / 8.1 / 10 / 11 ✅ Fully supported via app
🍏 MacBook / iMac macOS 10.15+ ✅ Fully supported via app
📱 Android / Mobile Android OS ❌ Not supported

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