Indicators: Squeeze Break Indicator

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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

[Deleted]  

This is a great work. Thank you very much.

 

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

 
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

 
donmajor:

This is a great work. Thank you very much.

Thanks for the encouraging words donmajor ! Much appreciated

Regards,

Des

 

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

[Deleted]  

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

[Deleted]  

Hello Everyone:

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

cornerstone-43

[Deleted]  

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


Author: Catan

 
Indicator has a bug, it deletes all objects on the screen on time frame change. Could you please fix it?
 
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(); 

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