Bollinger Squeeze Indicator
Info
The Bollinger Squeeze Indicator is a Indicator for MetaTrader 5 that a trend indicator with four states. This indicator provides an option for selecting a source indicator for detecting trend using the triggertype input parameter.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Bollinger Squeeze Indicator
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
A trend indicator with four states.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: bollinger bands 3 sigma - another powerful indicator for MetaTrader 5 traders.
A trend indicator with four states. This indicator provides an option for selecting a source indicator for detecting trend using the triggertype input parameter. Available options include: - Stochastic - CCI - RSI - MACD - Momentum Strong trends are indicated by red and green colors, while weak trends are shown in pale purple and blue colors. The ATR and StdDev indicators are utilized for determining trend strength. This indicator was originally developed for MQL4 and released on 12.03.2026.Also recommended: adx wilder with bollinger bands - similar indicator with strong performance on MetaTrader 5.
Figure 1. The Bollinger Squeeze v9 Indicator
You may also like: bollinger bandwidth 1.0 for metatrader 5 - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_separate_window
#property indicator_buffers 3
#property indicator_plots 2
#property indicator_type1 draw_color_histogram
#property indicator_color1 clrred,clrorchid,clrgray,clrdodgerblue,clrlime
#property indicator_style1 style_solid
#property indicator_width1 4.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.