Bollinger Squeeze Basic MetaTrader Indicator – It is a complex indicator based on Momentum, bowling bands and the Keltner Channel. When the indicator shows the relationship between the current bowling bands and the Celtic Channel prices, it is drawn in a separate window as a momentum histogram and a range of points. This indicator is available for both MT4 and MT5 trading platform versions.
The Bollinger Squeeze Basic is part of the Not So Squeezy Index.
- Maxbars (Default = 300) – The maximum number of bars on the table to apply the cursor.
- BB_ time (Default = 20) – Indicative time for bowling bands.
- BB_Diviation (Default = 2.0) – Measurement of Bollinger Bands Variation.
- Keltner_Period (Default = 20) – Keltner channel indicator time.
- Keltner_Factor (Default = 1.5) – Celtic Channel Duplication Status.
- Momentum_time (Default = 12) – Time for momentum indicator.
- Enable NativeAlerts (Default = false) – If it’s true.MetaTrader native pop-up alerts are used for color change by BB / Keltner arrows.
- Enable email alerts (Default = false) – If it’s true., Metaderer email alerts will be sent in color change by BB / Keltner arrows. Email must be configured correctly via MetaTrader. Tools -> Options -> Email.
- Enable push alarms (Default = false) – If it’s true.When the BB / Keltner arrows change color, the MetaDrader push notification alerts are sent to your device. Notifications must be configured correctly in MetaTrader Tools -> Options -> Notifications.
- Trigger candle (Default = Primary) – To trigger alarms Previous – The most recently closed candle or Current – Unfinished candle.
Example and strategy
The pointer uses the speed to measure the strength and direction of the trend.
- The rising speed above the zero line is marked with dark green bars.
- The fall rate above zero line (also upwards) is marked by simple green bars.
- The bottom line is marked with dark red bars.
- Falling speed is below the zero line (as well as the bottom line) with simple red bars.
In addition, the Bollinger Squeeze Basic provides an interesting accessory built into the main histogram. The blue and red squares on the Zero line indicate the relationship between the Bollinger Bands and the Keltner Channel.
- The squares are outside the red bowling bands outside the Keltner Channel, indicating that the exchange rate is rising sharply.
- If the squares are blue, the bowling bands are in the Keltner Channel, indicating a side flat market.
The main idea behind this indicator is to set up trading zones to break even when there is no trend in the market (blue squares) and turn red squares (trend level). The histogram shows how strong the current trend is and tells you when you will be out of business due to the trend weakening.