Bollinger bands - squeeze
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Bollinger bands - squeeze
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.
Description & Settings
Theory :
The "squeeze" method (indicator doing that was posted here : )is usually (due to the nature of calculation - since it uses standard deviations as a part of calculation) associated with Bollinger bands indicator. This indicator is doing that : combining the Bollinger bands and the "squeeze" into one indicator
Usage :
Check if the middle Bollinger bands value has a color or not. If it does not have a color (it is gay), according to theory the market is consolidating and you can expect a break in either direction. Use the Bollinger bands itself for estimation of the possible direction and then use the color change as signal. The color of the middle line is not based on middle line slope, but on the median price position related to that value
The ATR and deviation bands multipliers used as default are the ones that are usually used for that. Some experimenting with those parameters is advised before you use the indicator for trading decisions
