Bollinger Bands Squeeze With MACD Indicator MT4

The Bollinger Bands Squeeze With MACD Indicator for MT4 is a combination of some of the best forex indicators providing trend momentum insights and market entries ideas, plus it’s available to free download. It provides very solid signals, thus it’s a choice of many traders utilizing their trend-based strategies.

Sounds convincing? Let’s take a closer look at it and bring some practical trading examples.

Introducing the Bollinger Bands Squeeze With MACD Indicator

MT4 Indicator Overview

The download link of the Bollinger Bands Squeeze With MACD MT4 indicator is placed at the bottom of this post. Once you’re done, your trading chart should look similar to the example below.

As you can see, it is displayed within a separate window placed below the main trading chart and consists of two elements: colorful MACD bars and Bollinger Squeeze which is displayed as a tight moving average line.

Each color of MACD bars has a specific meaning. Green histograms suggest a bullish momentum. On the other hand, red histograms reflect a bearish trend. Finally, blue histograms indicate market indecision or a neutral area.

This forex indicator works well for rather short-term trading strategies such as scalping and day trading.

Settings

There are quite a few variables you can customize to fit your personal preferences and trading strategy. Play with these settings as it may translate into improved results.

How To Trade With The Bollinger Bands Squeeze With MACD Indicator?

Generally speaking, the signal trigger is based mainly on histogram bars’ specific values and colors. Let’s deep dive into how to exactly use that forex indicator in a few simple steps.

Bollinger Bands Squeeze With MACD: Buy Signal

Bollinger Squeeze’s value is positive (above 0 level)
MACD bars turn green
Open long trade when the above conditions are met
Set stop loss a few pips below the most recent market’s low point
Take profit whenever the blue bar appears or close it after achieving a satisfying risk-to-reward ratio

Bollinger Bands Squeeze With MACD: Sell Signal

Bollinger Squeeze’s value is negative (below 0 level)
MACD bars turn red
Open short trade when the above conditions are met
Set stop loss a few pips above the most recent market’s high point
Take profit whenever the blue bar appears or close it after achieving a satisfying risk-to-reward ratio

How to set up the Bollinger Bands Squeeze With MACD indicator in MetaTrader (MT4)?

Installation Guide

Download the Bollinger Bands Squeeze With MACD.rar archive at the bottom of this post, unpack it, then copy and paste the bollinger-squeeze-with-macd.ex4 or bollinger-squeeze-with-macd.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.

Conclusion

The Bollinger Bands Squeeze With MACD is a pretty good trading tool generating reliable signals. It fits all kinds of currency pairs and time frames. One can utilize it as a standalone technical analysis indicator or add it to any forex strategy as a supplement. The best results occur during strong market trends. What’s more, it gives an idea of when the market is neutral, thus when not to trade.