4/4/25, 2:17 PM Bollinger Squeeze Advanced MetaTrader Indicator (MT4/MT5)
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EarnForex Software MetaTrader Indicators Bollinger Squeeze Advanced
Bollinger Squeeze Advanced
Bollinger Squeeze Advanced MetaTrader indicator — is a complex indicator consisting of two components:
A measure of trendedness based on the Bollinger bands and Keltner channel "squeeze".
A trend direction and strength histogram based on one of the following eight oscillators: Stochastic,
CCI, RSI, MACD, Momentum, Williams % Range, ADX, DeMarker.
The indicator is drawn in the separate window of the chart as a histogram with additional information
conveyed by the color and width of its bars. It supports multi-timeframe (MTF) operation and all types of
alerts. This indicator is available for both MT4 and MT5 versions of the trading platform.
Bollinger Squeeze Advanced is a part of the Not So Squeezy indicator system.
If you are interested in Bollinger Squeeze indicators, you might also be interested
in a simpler version — Bollinger Squeeze Basic.
Input parameters
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Timeframe (default = Current) — the timeframe to draw the data from. The indicator can display higher
timeframe data on a lower timeframe chart.
TriggerType (default = DeMarker) — the oscillator indicator for the trend measurement histogram.
StochasticPeriod (default = 14) — the period for the Stochastic indicator (if set via TriggerType).
CCIPeriod (default = 50) — the period for the CCI indicator (if set via TriggerType).
RSIPeriod (default = 14) — the period for the RSI indicator (if set via TriggerType).
MACDFastEMAPeriod (default = 12) — the fast EMA period for the MACD indicator (if set via
TriggerType).
MACDSlowEMAPeriod (default = 26) — the slow EMA period for the MACD indicator (if set via
TriggerType).
MACDMACDEMAPeriod (default = 9) — the signal line period for the MACD indicator (if set via
TriggerType).
MomentumPeriod (default = 14) — the period for the Momentum indicator (if set via TriggerType).
WilliamsPRPeriod (default = 24) — the period for the Williams % Range indicator (if set via
TriggerType).
ADXPeriod (default = 14) — the period for the ADX indicator (if set via TriggerType).
DeMarkerPeriod (default = 13) — the period for the DeMarker indicator (if set via TriggerType).
AlertOnSidewaysTrending (default = false) — if true, the indicator will issue alerts when market
conditions change from Trending to Sideways or vice versa.
AlertOnZeroCross (default = false) — if true, the indicator will issue alerts when the histogram crosses
the zero line or the levels defined via the two input parameters below.
AlertAboveLevel (default = 0) — an alert level when the indicator's value rises above it.
AlertBelowLevel (default = 0) — an alert level when the indicator's value falls below it.
EnableNativeAlerts (default = false) — if true, indicator will use MetaTrader's native pop-up alerts.
EnableEmailAlerts (default = false) — if true, indicator will use MetaTrader's email alerts. Email should
be properly configured in MetaTrader via Tools->Options->Email.
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4/4/25, 2:17 PM Bollinger Squeeze Advanced MetaTrader Indicator (MT4/MT5)
EnablePushAlerts (default = false) — if true, indicator will use MetaTrader's push notification alerts.
Notifications should be properly configured in MetaTrader via Tools->Options->Notifications.
TriggerCandle (default = Previous) — the candle to issue alerts on: Previous — the most recently
closed candle or Current — the yet unfinished candle.
Example and strategy
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The indicator uses one of the eight oscillator indicators to measure the trend's strength and direction and
display it as a histogram:
Uptrend waves are marked with green bars above the zero line.
Downtrend waves are marked with red bars below the zero line.
Additionally, Bollinger Squeeze Advanced provides a volatility measure built into the main histogram. When
the Bollinger Squeeze indicates a sideways market (Bollinger bands are inside the Keltner channel), the
histogram bars change to thick blue ones.
The main idea behind this indicator is to establish trading ranges during the non-trending phase of the
market (blue histogram bars) to enter on a breakout and a switch to normal bars. The histogram will help
you understand how strong the current trend is and will tell you when to exit a trade on the trend's
weakening.
Download (ver. 1.01, 2023-12-04)
Bollinger Squeeze Advanced for MetaTrader 4 (zipped)
Download
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4/4/25, 2:17 PM Bollinger Squeeze Advanced MetaTrader Indicator (MT4/MT5)
Bollinger Squeeze Advanced for MetaTrader 4
Download
Bollinger Squeeze Advanced for MetaTrader 5 (zipped)
Download
Bollinger Squeeze Advanced for MetaTrader 5
Download
You can open a trading account with any of the MT4 Forex brokers to freely use
the presented here indicator for MetaTrader 4. If you want to use an MT5 version
of the indicator presented here, you would need to open an account with a broker
that offers MetaTrader 5.
Discussion
Warning!
If you do not know how to install this indicator, please read the MetaTrader
Indicators Tutorial.
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Do you have any suggestions or questions regarding this indicator? You can always discuss Bollinger
Squeeze Advanced with the other traders and MQL programmers on the indicators forums.
Changelog
1.01 - 2023-12-04
Added support for multi-timeframe operation.
Added customizable alert levels.
Fixed a bug with alerts about switching to the Sideways market mode.
1.00 - 2022-03-14
First release of Bollinger Squeeze Advanced on EarnForex.com.
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