Bollinger Squeeze With MACD Metatrader 4 Forex Indicator
The Bollinger Squeeze With MACD Metatrader 4 forex indicator is great at spotting areas of value on your chart.
It is an effective and easy-to-use tool that traders can patronize to understand the price volatility of an fx pair.
This is a very useful indicator for your trading needs and has proven to be quite flexible and profitable.
This implies that it can be an attractive tool for all types of traders i.e. scalpers, swing and day traders.
- In order to read its signals, the indicator uses three color schemes within the displayed histograms in the indicator’s window.
- Basically, the histograms are color filled either as lime, red or blue.
- Low volatility is marked by the blue shaded histograms and depicts a range-bound market, while the lime shaded histograms illustrates a surging volatility that dives price higher.
- The red shaded histograms equally denotes rising volatility, but this time, price is driven lower.
Feel free to explore the Bollinger Squeeze With MACD Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Bollinger Squeeze With MACD Forex Indicator Chart (EUR/JPY M5 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 With MACD MT4 Indicator
Buy Signal: Go long when price is trading (candle opens and closes) above the magenta 36 EMA indicator line and the Bollinger Squeeze With MACD indicator prints lime histograms that are aligned above the zero-horizontal level.
Sell Signal: Go short when price is trading (candle opens and closes) below the magenta 36 EMA indicator line and the Bollinger Squeeze With MACD indicator prints red histograms that are aligned below the zero-horizontal level
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the Bollinger Squeeze With MACD indicator histograms turns red, or when price opens and closes below the 36 EMA indicator line.
Exit sell trade: Close all sell orders if while a bearish trend is running, the Bollinger Squeeze With MACD indicator histograms gets shaded lime, or when price opens and closes above the 36 EMA indicator line.
Tips: The Bollinger Squeeze With MACD MT4 indicator can be used as a standalone trading tool.
Howbeit, getting the best off this indicator will require combining it additional technical indicators, prompting us to fuse it up with the 36 EMA.
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Trigger type, stoch period trigger 1, cci period trigger 2, rsi period trigger 3, macd fast ema trigger 4, macd slow ema trigger 4, macd_macd ema trigger 4, momentum period trigger 5.
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.