The Bollinger Band MT4 Forex indicator is a powerful tool for analyzing the foreign exchange markets. The bands are two lines that run parallel to each other, and they envelope the price action of a currency pair. As the market volatility changes, the bands will condense or expand in order to accurately reflect the market conditions. This makes it a useful tool for traders when trying to identify entry and exit points, potential area of support and resistance, and overall trend direction. The Bollinger Band MT4 Forex indicator is used by many traders within the Forex market to determine decision-making points.