The Bollinger Squeeze Buy/Sell Metatrader 4 indicator is a Bollinger Bands type indicator that mimics an oscillator.
The indicator gauges decline in volatility, as well as its increase.
The start of a new trend is usually heralded by the Bollinger Squeeze.
In this case, the squeeze is represented by the fading histograms on the area around the zero-horizontal level.
Although, we have the indicator default setting tot 20 periods (bolPrd) and two standard deviation (bolDev), it can be tweaked to reflect one’s trading preferences.
- Just to get a clearer picture of how the market is fairing, pay more attention to the changing color of the Bollinger Squeeze Basic MT4 indicator histograms.
- Generally speaking, the indicator tends to modify the color and length of its histograms, between Indian red, light pink, lime green and light green to depict price action.
- When the histograms are printed lime and light green, above the zero-horizontal level, it is signaling bullish sentiments, while Indian red and light pink printed histograms, that are aligned below the zero-horizontal level are indicative of bearish market sentiments.
Feel free to explore the Bollinger Squeeze Basic Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Bollinger Squeeze Buy/Sell Forex Indicator Chart (NZD/USD H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Bollinger Squeeze Buy/Sell MT4 Indicator
Buy Signal: Go long when the Bollinger Squeeze Buy/Sell MT4 indicator prints lime and light green histograms above the zero-horizontal level.
When the Ichimoku Kinko Hyo indicator prints sandy brown cloud below the price bars, it is a buy signal confirmation.
Sell Signal: Go short when the Bollinger Squeeze Buy/Sell MT4 indicator prints Indian red and light pink histograms below the zero-horizontal level.
When the Ichimoku Kinko Hyo indicator prints thistle cloud above the price bars, it is a sell signal confirmation.
Exit buy trade: Close all buy orders if while a bullish trend is running, the Bollinger Squeeze indicator prints an Indian red histogram below the 0.00 level.
Else, the Ichimoku Kinko Hyo pops up a thistle cloud on the activity chart.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the Bollinger Squeeze indicator prints a lime green histogram above the 0.00 level.
Else, the Ichimoku Kinko Hyo pops up a sandy brown cloud on the activity chart.
Tips: The Bollinger Squeeze Buy/Sell MT4 indicator is well-built to take on changing market trends.
It can act as a standalone indicator, regardless, we did combine it with the Ichimoku Kinko Hyo indicator to fine tune trade results and make them consistently profitable.
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Total Bars, bol prd, bol dev, kelt prd, kelt factor, mom prd, alert box, audio alert.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Bollinger Bands
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.