Download MetaTrader 5

Indicators: Squeeze Break Indicator

To add comments, please log in or register
MetaQuotes Software Corp.
Moderator
182641
MetaQuotes Software Corp.  

Squeeze Break Indicator:

This indicator uses a combination of Bollinger Bands and Keltner Channels to capture moves from low to high volatility.

Author: Desmond ORegan

MQL4 Comments
16319
MQL4 Comments  

This is a great work. Thank you very much.

Meta2
364
Meta2  

Hi,

there are little sign for the break out in the chart: red and blue.

red for sell and blue for buy, that's right?

Best regards

J_l

Desmond ORegan
19
Desmond ORegan  
Meta1:

Hi,

there are little sign for the break out in the chart: red and blue.

red for sell and blue for buy, that's right?

Best regards

J_l

Hi Meta1,

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.

Regards,

Des

Desmond ORegan
19
Desmond ORegan  
donmajor:

This is a great work. Thank you very much.

Thanks for the encouraging words donmajor ! Much appreciated

Regards,

Des

Vlad Vahnovanu
345
Vlad Vahnovanu  

This is great work!Thanks for the indicator Catan!!

MQL4 Comments
16319
MQL4 Comments  

Hi

Could someone tell how to change the alert to signal when the indicator goes red? As opposed to when it goes back to green.

dave

MQL4 Comments
16319
MQL4 Comments  

Hello Everyone:

Instead of using Momentum to determine buy/sell signals what about using Williams %R? Just a suggestion.

cornerstone-43

MQL4 Comments
16319
MQL4 Comments  

ya ya Fine no but supper fine combination i like it much i use this indicator.


Author: Catan

inet200
373
inet200  
Indicator has a bug, it deletes all objects on the screen on time frame change. Could you please fix it?
ivnamei
5
ivnamei  
inet200:
Indicator has a bug, it deletes all objects on the screen on time frame change. Could you please fix it?

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:

   ObjectsDeleteAll(-1, OBJ_ARROW);


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:

   //ObjectsDeleteAll(); 

To add comments, please log in or register