Squeeze Break Indicator:
Author: Desmond ORegan
This is a great work. Thank you very much.
there are little sign for the break out in the chart: red and blue.
red for sell and blue for buy, that's right?
That's the idea anyway. A red arrow indicates that the Momentum indicator is below the zero line and a blue arrow indicates that it is above the zero line. According to the strategy rules one should go short on a red arrow and long on a blue arrow. Be aware of resistance levels close to blue arrows and support levels close to red arrows. If they are too close, which can happen, I wait for price to penetrate those levels first.
Thanks for the encouraging words donmajor ! Much appreciated
This is great work!Thanks for the indicator Catan!!
Could someone tell how to change the alert to signal when the indicator goes red? As opposed to when it goes back to green.
Instead of using Momentum to determine buy/sell signals what about using Williams %R? Just a suggestion.
ya ya Fine no but supper fine combination i like it much i use this indicator.
Thank you for the indicator Desmond ORegan.I fixed the bug by changing line #114: (On MT4, press F4 or go to Tools->MetaQuotes Language Editor, then go the folder Indicators, double click Squeeze_Break and search for ObjectsDeleteAll or scroll down to line 114 - change it as follows, then File->Save, restart MT4)
//ObjectsDeleteAll(); - original, change to:
That way it clears only the arrows instead of all the objects. If you want to keep the arrows, just comment the line (add //) and don't add anything else: