Indicators

[Maverick]

bbsqueeze


A variation on the one I am curently using - BBSqueeze Dark Indicator

1. Step 1: See the zero line. It consists of either Red dot or Green dot. If it is Green dot, it’s time to take action. Now, action (buy or sell) has been defined in step 2 below. If it’s Red dot, do nothing and stay away. Just hold your position.
2. Step 2: If you see Green dot in zero line, it’s time to either Buy or Sell. For that, see the histogram lines, which are either on above zero line (blue lines) or below zero lines (red lines). Just buy on blue histogram and sell on red histogram.

In a summary, take long position when you see green dot on zero line AND blue histogram lines.

And sell your position, when you see green dot on zero line AND red histogram lines.

You may or may not agree with the above explanation - I don't

 

[Maverick]

This was the video that first put me onto bbsqueeze

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Then I found this one

It's a lot easier to follow using Renko charts or even Heiken Ashi

enjoy

 

[Maverick]

This is the DAX again with a grid super imposed in an effort to show how good the "bbsqueeze" is at showing what is likely to happen next. The Heiken Ashi MA (21) and Keltner Channel are doing a pretty good job as well

 

[Maverick]

Notice also how good the Magenta dots (squeeze) are at prophesying whats about to happen.

 

[Maverick]

This is basically how I view the market with the assistance of my laptop connected to another monitor in portrait. M1 has it's own monitor in landscape (forgot to change the colour from Blue to Lime on the Heiken Ashi MA ) whilst the lower H1 is displayed on the laptop screen.

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The lower H1 helps give a longer term view of the market.

MN is basically a retrace but still heading South before it bounces of the Keltner - when we will see the last Magenta dot before a BIG push North

Overall it's looking like BUY on Monday - judging by the M1, M5, M30 & H1 Magenta dots (the more TF's the bigger the move)

That's my own personal interpretation of events

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[Maverick]

Having a nose around this site (as you do) I came across this page http://www.earnforex.com/metatrader-indicators/
where i found near the top of the pile "BB MACD" . . . would it complement my existing setup ?

Nothing Ventured . . . Nothing Gained
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So I've installed on two of my charts in readiness for next week . . . time will tell The grid is for YOUR benefit NOT mine



BB MACD MetaTrader indicator — is a basic MACD (Moving Average Convergence Divergence) indicator variation, which helps in detecting the trend change points and measuring the current trend's strength. The indicator is drawn in the separate window on the chart and consists of two lines Blue and Red which I changed to Aqua and the dots, which can be either Lime or Magenta. The change of the dots' colour is a good signal provider, while the width of gap between the two lines indicates the strength of the current trend. This indicator is available for MT4 and MT5.

As the chart example suggests, the signals to buy are when the Magenta dots turn into the Lime ones and the signal to sell is when the Green dots become Magenta. Trading is better performed the wider the Aqua and Red lines are

It's only when you cover the RH and move slowly to the right that you truly see an indicators worth - Wonderful thing hindsight

In my humble opinion it works better on the Renko than the OHLC . . . possibly because all the noise is gone ?

I remain ever hopeful as long as it's NOT information overload

 

[Maverick]

Overall it's looking like BUY on Monday

Called it wrong the market jumped over the weekend BUT still got my 20 of the rebound - what happened next doesn't really concern me today - I'm done !


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[Maverick]

Some good "bbsqueeze" calls today with GOLD



Magenta dots (squeeze) inform you of an imminent big move that's building up
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[Maverick]

Keltner Channel

O'oops it's NOT Keltner it's Donchian - bbsqueeze uses keltner hence the confusion

 

[Maverick]

Stumbled across this good explanation and video of the bbsqueeze - it's actually under a different name but the same principal

http://www.tradethemarkets.com/products/item5.cfm
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[Maverick]

The above indicator is a nice indicator BUT at $397.00 . . . H'mmm

This very similar one Squeeze RA https://www.mql5.com/en/code/13938 is FREE . . .

 

[Maverick]

Decided against Squeeze RA . . . bbsqueeze is easier in my opinion to see the Magenta Dot squeezes. Squeeze RA was actually more defined but I place more importance on the squeeze

 

[Maverick]

Currency Strength Meter - LiveCharts.co.uk

http://www.livecharts.co.uk/currency-strength.php

Our currency strength meter gives you a quick visual guide to which currencies are currently strong, and which ones are weak. The meter measures the strength of all forex cross pairs and applies calculations on them to determine the overall strength for each individual currency. Please see notes below for further details.


How Does The Currency Strength Meter Work?

The meter takes readings from every forex pair over the last 24 hours, and applies calculations to each. It then bundles together each the associated pairs to an individual currency (eg, EUR/USD, EUR/JPY, EUR/GBP etc) and finds the current strength.

How Can This Help Me?

It is useful as a quick guide to which currencies you might want to trade, and which might be worth staying away from. For instance, if a certain currency is very strong, and another suddenly turns weaker, you may find a trading opportunity. Such deviation between pairs usually indicates momentum. Conversely, if two currencies are weak, strong or average strength, there is often a range or sideways movement happening. You might want to stay away from trading those pairs.

How Often Is The Meter Updated?

It checks our real time forex data every minute and determines the current strength. Any changes will appear if you refresh the page.

It's Still Not Clear, Can You Show Me A Real Example?

Sure, let me show you a couple taken right now.

Go to this page and see our examples »
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[Maverick]

Any changes will appear if you refresh the page.

I use Firefox browser and as such have access to a Re-Load Page app
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