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.
Key Takeaways
- 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.
Download This MT4 Forex Indicator Free
Download the “bollinger-squeeze-basic.ex4” Metatrader 4 indicator
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.
Download This Forex Indicator Now
Download the “bollinger-squeeze-basic.ex4” MT4 indicator
Adjustable Parameters
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
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.