Bollinger Squeeze Advanced



Bollinger Squeeze Advanced MetaTrader indicator — is a complex indicator consisting of two components:

The indicator is drawn in the separate window of the chart as a histogram with additional information conveyed by the color and width of its bars. This indicator is available for both MT4 and MT5 versions of the trading platform.

Bollinger Squeeze Advanced is a part of the Not So Squeezy indicator system.

If you are interested in Bollinger Squeeze indicators, you might also be interested in a simpler version — Bollinger Squeeze Basic.

Input parameters

  • TriggerType (default = DeMarker) — the oscillator indicator for the trend measurement histogram.
  • StochasticPeriod (default = 14) — the period for the Stochastic indicator (if set via TriggerType).
  • CCIPeriod (default = 50) — the period for the CCI indicator (if set via TriggerType).
  • RSIPeriod (default = 14) — the period for the RSI indicator (if set via TriggerType).
  • MACDFastEMAPeriod (default = 12) — the fast EMA period for the MACD indicator (if set via TriggerType).
  • MACDSlowEMAPeriod (default = 26) — the slow EMA period for the MACD indicator (if set via TriggerType).
  • MACDMACDEMAPeriod (default = 9) — the signal line period for the MACD indicator (if set via TriggerType).
  • MomentumPeriod (default = 14) — the period for the Momentum indicator (if set via TriggerType).
  • WilliamsPRPeriod (default = 24) — the period for the Williams % Range indicator (if set via TriggerType).
  • ADXPeriod (default = 14) — the period for the ADX indicator (if set via TriggerType).
  • DeMarkerPeriod (default = 13) — the period for the DeMarker indicator (if set via TriggerType).
  • AlertOnSidewaysTrending (default = false) — if true, the indicator will issue alerts when market conditions change from Trending to Sideways or vice versa.
  • AlertOnZeroCross (default = false) — if true, the indicator will issue alerts when the histogram crosses the zero line.
  • EnableNativeAlerts (default = false) — if true, indicator will use MetaTrader's native pop-up alerts.
  • EnableEmailAlerts (default = false) — if true, indicator will use MetaTrader's email alerts. Email should be properly configured in MetaTrader via Tools->Options->Email.
  • EnablePushAlerts (default = false) — if true, indicator will use MetaTrader's push notification alerts. Notifications should be properly configured in MetaTrader via Tools->Options->Notifications.
  • TriggerCandle (default = Previous) — the candle to issue alerts on: Previous — the most recently closed candle or Current — the yet unfinished candle.

Example and strategy

Bollinger Squeeze Advanced Indicator Example MetaTrader Chart

The indicator uses one of the eight oscillator indicators to measure the trend's strength and direction and display it as a histogram:

  • Uptrend waves are marked with green bars above the zero line.
  • Downtrend waves are marked with red bars below the zero line.

Additionally, Bollinger Squeeze Advanced provides a volatility measure built into the main histogram. When the Bollinger Squeeze indicates a sideways market (Bollinger bands are inside the Keltner channel), the histogram bars change to thick blue ones.

The main idea behind this indicator is to establish trading ranges during the non-trending phase of the market (blue histogram bars) to enter on a breakout and a switch to normal bars. The histogram will help you understand how strong the current trend is and will tell you when to exit a trade on the trend's weakening.

Downloads (ver. 1.00, 2022-03-14)

Bollinger Squeeze Advanced for MetaTrader 4 (zipped)

Bollinger Squeeze Advanced for MetaTrader 4

Bollinger Squeeze Advanced for MetaTrader 5 (zipped)

Bollinger Squeeze Advanced for MetaTrader 5

You can open a trading account with any of the MT4 Forex brokers to freely use the presented here indicator for MetaTrader 4. If you want to use an MT5 version of the indicator presented here, you would need to open an account with a broker that offers MetaTrader 5.

Discussion

Warning! If you do not know how to install this indicator, please read the MetaTrader Indicators Tutorial.

Do you have any suggestions or questions regarding this indicator? You can always discuss Bollinger Squeeze Advanced with the other traders and MQL programmers on the indicators forums.

Changelog

1.00 - 2022-03-14

  • First release of Bollinger Squeeze Advanced on EarnForex.com.

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EarnForex.com

Design — Mart Studio

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