The Bollinger Bands Squeeze indicator for Metatrader 5 provides solid trading signals solely based on the popular Bollinger Bands.
The indicator pops up in the main chart as Bollinger bands and a simple to follow buy & sell signal line.
The signal line is based on the Bollinger bands’ slope and the trade logic goes as follows:
- A bullish trend occurs when the Bollinger bands are sloping upward.
- A bearish trend occurs when the Bollinger bands are sloping downward.
The BB squeeze indicator works for any trade style of your preference.
The indicator contains the following inputs and parameters: bollinger bands period, price, deviation, ATR multiplier, zones percent, style.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
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Bollinger bands (squeeze).mq5 Indicator (MT5)
Chart Example
The following chart shows how the BB Squeeze indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Bollinger Bands Squeeze Forex Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is given as soon as the green colored BB squeeze line is displayed on the chart.
- Open a buy order and place your stop loss below the lower Bollinger band.
- Close the buy trade for a reward-to-risk ratio of at least 1.7.
- You can also hold the trade until the brown BB squeeze line appears on the chart.
Sell Signal
- A sell signal is given as soon as the brown colored BB squeeze line is displayed on the chart.
- Open a sell order and place your stop loss above the upper Bollinger band.
- Close the sell trade for a reward-to-risk ratio of at least 1.7.
- You can also hold the trade until the brown BB squeeze line appears on the chart.
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Bollinger bands (squeeze).mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Bollinger bands (squeeze).mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration