The Basic Bollinger Bands Squeeze Indicator MT4 (MetaTrader 4) is a sophisticated indicator that combines Momentum, Bollinger Bands, and Keltner Channel to provide valuable insights. This indicator is visually represented in a separate window on the chart, appearing as a Momentum Histogram along with a series of dots. These dots illustrate the correlation between the present values of Bollinger Bands and Keltner Channel. This forex MT4 indicator is available for free download.
Basic Bollinger Bands Squeeze Indicator MT4: Introduction
MT4 Indicator Overview
The download link of the Basic Bollinger Bands Squeeze MT4 indicator is placed at the bottom of this post – once you’re done, your Metatrader 4 trading chart should look similar to the example below.
Utilizing the Basic Bollinger Bands Squeeze indicator empowers forex traders with valuable knowledge regarding market volatility, momentum, and expected price shifts. This indicator promptly reacts to noteworthy price movements, offering valuable insights into prevailing market trends. Explore this comprehensive guide to acquire the skills necessary to identify profitable forex trade signals employing the Basic Bollinger Squeeze indicator.
Basic Bollinger Bands Squeeze Indicator: Trading Strategy
The indicator utilizes momentum as a gauge for measuring the strength and direction of the trend:
- When momentum rises above the zero line (uptrend), it is represented by darker green bars.
- If momentum falls above the zero line (also an uptrend), it is denoted by lighter green bars.
- Rising momentum below the zero line (downtrend) is indicated by darker red bars.
- Falling momentum below the zero line (also a downtrend) is indicated by lighter red bars.
In addition, the Bollinger Squeeze Basic indicator incorporates a fascinating measure of volatility within its main histogram. The presence of blue and red squares on the zero line signifies the current relationship between the Bollinger Bands and the Keltner Channel:
- Red squares indicate that the Bollinger bands are outside the Keltner channel, suggesting a strong trending market.
- Blue squares indicate that the Bollinger bands are inside the Keltner channel, indicating a flat and sideways market.
The core concept behind this indicator is to identify trading ranges during non-trending market phases (represented by blue squares) in order to enter trades on a breakout when the squares switch to red (indicating a trending phase). The histogram provides insights into the strength of the current trend and offers guidance on when to exit a trade as the trend weakens.
MT4 Indicators: Download and Installation Instructions
Download the Basic Bollinger Bands Squeeze Indicator MT4.rar archive at the bottom of this post, unpack it, then copy and paste the basic-bollinger-bands-squeeze.ex4 or basic-bollinger-bands-squeeze.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The MT4 Basic Bollinger Bands Squeeze indicator for MetaTrader stands out as a premier momentum indicator, enabling forex traders to capitalize on volatile market fluctuations. Its primary objective is to assist traders in identifying the optimal timing for executing buy-sell entries aligned with the prevailing market trends. By employing a well-defined momentum ftrading strategy, you can enhance your return on investment and maintain a competitive edge in the market. The forex indicator is available for free download and can be effortlessly installed.
Free Download Forex Basic Bollinger Bands Squeeze MT4 Indicator
To download the Basic Bollinger Bands Squeeze Indicator for Metatrader 4 (MT4) for free just click the button below: