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Squeeze Break Indicator – indicator for MetaTrader 4

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Old 20-03-2018, 21:37
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Default Squeeze Break Indicator – indicator for MetaTrader 4

SqueezebBreakfShot_small.jpg

This indicator is based on a strategy mentioned in John Carter’s book, Mastering the Trade. The basic idea behind the strategy is that markets tend to move from periods of low volatility to high volatility and visa versa. The strategy aims to capture moves from low to high volatility.

For gauging this he uses two common indicators – Bollinger Bands and Keltner Channels (ok, not so common!). He also uses the Momentum indicator to provide a trade bias as some as the Bollinger Bands come back outside the Keltner Channels. The Squeeze_Break indicator combines this into a signal indicator and has the following components:


    A positive green histogram means that the Bollinger Bands are outside the Keltner Channels and the market is lightly to be trending or volatile.The stronger the histogram the stronger the directional price move.
    A negative red histogram means that the Bollinger Bands are inside the Keltner Channels and the market is lightly to be consolidating. The stronger the red histogram the tighter price action is becoming.
    Incorporated into the indicator is a Momentum indicator. According to the strategy J. Carter goes long when the Bollinger Bands break outside the Keltner Bands and the Momentum indicator is above the zero line. He goes short when the Momentum indicator is below the zero line.
    I’ve also added other indicator info in the top left hand corner to give a broader idea of current market conditions.
    The indicator provides audio alerts when a potential breakout is occurring. This indicator tends to be better with the larger timeframes. Personally I don’t trade purely on an alert signal alone. It’s just a handy tool for warning me of changes in price action and potential breakouts.

How to install Squeeze Break Indicator – indicator for MetaTrader 4.mq4?


    Download Squeeze Break Indicator – indicator for MetaTrader 4.mq4
    Copy Squeeze Break Indicator – indicator for MetaTrader 4.mq4 to your Metatrader Directory / experts / indicators /
    Start or restart your Metatrader 4 Client
    Select Chart and Timeframe where you want to test your MT4 indicators
    Search "Custom Indicators" in your Navigator mostly left in your Metatrader 4 Client
    Right click on Squeeze Break Indicator – indicator for MetaTrader 4.mq4
    Attach to a chart
    Modify settings or press ok
    Indicator Squeeze Break Indicator – indicator for MetaTrader 4.mq4 is available on your Chart

How to remove Squeeze Break Indicator – indicator for MetaTrader 4.mq4 from your Metatrader Chart?


    Select the Chart where is the Indicator running in your Metatrader 4 Client
    Right click into the Chart
    "Indicators list"
    Select the Indicator and delete

Click here below to download:

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