Bollinger Bands - Squeeze - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

The "squeeze" method (an indicator that does this is published here: Squeeze ) is usually (due to the nature of the calculation - since it uses standard deviation as part of the calculation) associated with the Bollinger Bands indicator. This indicator is doing just that: combining Bollinger Bands and "Squeeze" into one indicator

Check if the middle value of Bollinger Bands has color. If it has no color (it is gay), according to the theory, the market is consolidating and you can expect a breakout in either direction. Use the Bollinger Bands themselves to estimate possible directions and then use the color changes as signals. The color of the middle line is not based on the middle line slope, but rather on the median price position associated with that value

The ATR and bias band multipliers used by default are the multipliers commonly used for this purpose. Before using the indicator to make trading decisions, it is recommended to conduct some experiments with these parameters

Attachment download

📎 bollinger_bands_tsqueezea.mq5 (16.18 KB)

Source: MQL5 #24735