Bollinger Squeeze V4 is a simple forex indicator. It is based on bollinger bands and displays as histogram in separate window below main chart. Trading decisions of buying or selling are made on the basis of histogram bars colors and their position (positive or negative).
Rules for opening long trades (BUY):
- Look for the currency pair which is in clear uptrend.
- Wait for the green histogram bars.
- Open a buy position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the histogram bars turns red.
Rules for opening short trades (SELL):
- Look for the currency pair which is in clear downtrend.
- Wait for the red histogram bars.
- Open a sell position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the histogram bars turns green.
The Bollinger Squeeze V4 indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Download Free Forex MT4 Bollinger Squeeze V4 Indicator
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