![]() The histogram will suggest how strong the current trend is and will tell you when to exit a trade on the trend's weakening. The main idea behind this indicator is to establish trading ranges during the non-trending phase of the market ( blue squares) to enter on a breakout and a switch to red squares (trending phase). If the squares are blue, the Bollinger bands are inside the Keltner channel, which suggests a flat sideways market.If the squares are red, the Bollinger bands are outside the Keltner channel, which suggests that exchange rate is trending strongly.The range of blue and red squares on the zero line indicate the current relationship between the Bollinger bands and the Keltner channel: Falling momentum below the zero line (also downtrend) is marked with lighter red bars.Īdditionally, Bollinger Squeeze Basic offers an interesting volatility measure built into the main histogram.Rising momentum below the zero line (downtrend) is marked with darker red bars.Falling momentum above the zero line (also uptrend) is marked with lighter green bars.Rising momentum above the zero line (uptrend) is marked with darker green bars.The indicator uses the momentum to measure the trend's strength and direction: TriggerCandle (default = Previous) - the candle to issue alerts on: Previous - the most recently closed candle or Current - the yet unfinished candle.Notifications should be properly configured in MetaTrader via Tools->Options->Notifications. EnablePushAlerts (default = false) - if true, MetaTrader's push notification alerts will be sent to your device upon the BB/Keltner arrows' change of color.Email should be properly configured in MetaTrader via Tools->Options->Email. EnableEmailAlerts (default = false) - if true, MetaTrader's email alerts will be sent on the BB/Keltner arrows' change of color.EnableNativeAlerts (default = false) - if true, MetaTrader's native pop-up alerts will be used on the BB/Keltner arrows' change of color.Momentum_Period (default = 12) - the period for the Momentum indicator.Keltner_Factor (default = 1.5) - the Keltner channel multiplication factor.Keltner_Period (default = 20) - the period for the Keltner channel indicator.BB_Deviation (default = 2.0) - the Bollinger bands deviation parameter.BB_Period (default = 20) - the period for the Bollinger bands indicator.MaxBars (default = 300) - the maximum number of bars on the chart to apply the indicator to. ![]() MultKC = input(1.If you are interested in Bollinger Squeeze indicators, you might also be interested in an advanced version - Bollinger Squeeze Advanced. Study(shorttitle = "SQZMOM_LB", title="Squeeze Momentum Indicator ", overlay=false) Book: Mastering The Trade by John F Carter Also, Mr.Carter uses simple momentum indicator, while I have used a different method (linreg based) to plot the histogram. My (limited) experience with this shows, an additional indicator like ADX / WaveTrend, is needed to not miss good entry points. Converted LazyBear Squeeze Momentum Indicator from TradingView to MQL4 - Free download of the 'Squeeze Momentum Indicator - LazyBear' indicator by 'bugscoder' for MetaTrader 4 in the MQL5 Code Base, 2022.06. Exit the position when the momentum changes (increase or decrease - signified by a color change). Mr.Carter suggests waiting till the first gray after a black cross, and taking a position in the direction of the momentum (for ex., if momentum value is above zero, go long). This signifies low volatility, market preparing itself for an explosive move (up or down). This is a derivative of John Carter's "TTM Squeeze" volatility indicator, as discussed in his book "Mastering the Trade" (chapter 11).īlack crosses on the midline show that the market just entered a squeeze (Bollinger Bands are with in Keltner Channel). ![]() Use the updated source instead of the what TV shows below. Fixed a typo in the code where BB multiplier was stuck at 1.5.
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