BBSqueeze - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

The non-normalized symmetric oscillator based on the linear regression algorithm is displayed as a color histogram, where the simplest indicator of trend strength is in the form of color points along the central zero line of the histogram. Histogram bar colors correspond to trend direction. The moment when the histogram changes color is the best signal to enter the market. Gray dots indicate that the trend is smaller than its valid value. Blue dots indicate a strong trend.

The smoothing algorithm can be chosen from ten possible versions:

It should be noted that the Phase parameters of different smoothing algorithms have completely different meanings. For JMA, it is an external phase variable that varies from -100 to +100. For T3, it is the smoothed ratio multiplied by 100 for better visualization; for VIDYA, it is the CMO oscillation period; for AMA, it is the slow EMA period. In other algorithms, these parameters do not affect smoothing. For AMA the fast EMA period is a fixed value, equal to 2 by default. For AMA, the ratio of raised powers is also equal to 2.

The indicator uses the SmoothAlgorithms.mqh library class (must be copied to terminal_data_folder\MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

The indicator was first implemented in MQL4 and released in the code base on October 1, 2007.

Input parameters :

 //+------------------------------------------------+
//|Indicator input parameters |
//+------------------------------------------------+
Input Smooth_Method BB_Method=MODE_EMA_; // Histogram smoothing method
Input integer BB_period = 20 ; // Bollinger Bands period
Input integer BB_stage = 100 ; // Bollinger band smoothing parameter
Enter double BB_bias = 2.0 ; // Number of deviations
Enter Applied_price_ AppliedPrice=PRICE_CLOSE_; // Apply price
Enter double ATR_period = 20 ; // ATR period
Enter double ATR_factor = 1.5 ; // ATR ratio 

Attachment download

📎bbsqueeze.mq5 (13.78 KB)

📎 smoothalgorithms.mqh (133.8 KB)

Source: MQL5 #745