Indicators: Bollinger Squeeze Basic MT5
Sound like a trend and confirmation in the same indicator. interesting!
Hi Thanks for sharing your Indicator code, I tried to convert the Sqeeze Momentum Indicator from Trading View, here is the code I have.. it is bit different.. Would like to hear from you on this! Thanks.
//+------------------------------------------------------------------------+ //| SqueezeMomentumIndicator.mq5 | //| Converted from Pine Script by LazyBear | //| | //+------------------------------------------------------------------------+ #property copyright "Converted from Pine Script by LazyBear" #property link "" #property version "1.02" #property indicator_separate_window #property indicator_buffers 4 #property indicator_plots 2 #property indicator_type1 DRAW_COLOR_HISTOGRAM #property indicator_color1 clrLime, clrGreen, clrRed, clrMaroon #property indicator_style1 STYLE_SOLID #property indicator_width1 4 #property indicator_label1 "Squeeze Momentum" #property indicator_type2 DRAW_COLOR_LINE #property indicator_color2 clrBlue, clrBlack, clrGray #property indicator_style2 STYLE_SOLID #property indicator_width2 2 #property indicator_label2 "Squeeze" //--- input parameters input int LengthBB = 20; // BB Length input double MultBB = 2.0; // BB MultFactor input int LengthKC = 20; // KC Length input double MultKC = 1.5; // KC MultFactor input bool UseTrueRange = true; // Use TrueRange (KC) //--- indicator buffers double MomentumBuffer[]; // Momentum values double MomentumColorBuffer[]; // Momentum colors double SqueezeBuffer[]; // Squeeze values double SqueezeColorBuffer[]; // Squeeze colors //+------------------------------------------------------------------+ //| Custom indicator initialization function | //+------------------------------------------------------------------+ int OnInit() { //--- indicator buffers mapping SetIndexBuffer(0, MomentumBuffer, INDICATOR_DATA); SetIndexBuffer(1, MomentumColorBuffer, INDICATOR_COLOR_INDEX); SetIndexBuffer(2, SqueezeBuffer, INDICATOR_DATA); SetIndexBuffer(3, SqueezeColorBuffer, INDICATOR_COLOR_INDEX); //--- set color indexes PlotIndexSetInteger(0, PLOT_COLOR_INDEXES, 4); // 4 colors for histogram PlotIndexSetInteger(1, PLOT_COLOR_INDEXES, 3); // 3 colors for line //--- set indicator name IndicatorSetString(INDICATOR_SHORTNAME, "SQZMOM_LB [LazyBear]"); //--- set precision IndicatorSetInteger(INDICATOR_DIGITS, 5); //--- set arrays as series ArraySetAsSeries(MomentumBuffer, true); ArraySetAsSeries(MomentumColorBuffer, true); ArraySetAsSeries(SqueezeBuffer, true); ArraySetAsSeries(SqueezeColorBuffer, true); return(INIT_SUCCEEDED); } //+------------------------------------------------------------------+ //| Simple Moving Average | //+------------------------------------------------------------------+ double SimpleMA(const double &price[], int period, int shift) { double sum = 0.0; for(int i = 0; i < period; i++) { sum += price[shift + i]; } return sum / period; } //+------------------------------------------------------------------+ //| Standard Deviation | //+------------------------------------------------------------------+ double StdDev(const double &price[], int period, int shift) { double avg = SimpleMA(price, period, shift); double sum = 0.0; for(int i = 0; i < period; i++) { sum += MathPow(price[shift + i] - avg, 2); } return MathSqrt(sum / period); } //+------------------------------------------------------------------+ //| Linear Regression | //+------------------------------------------------------------------+ double LinReg(const double &price[], int period, int shift) { double sum_x = 0.0; double sum_y = 0.0; double sum_xy = 0.0; double sum_x2 = 0.0; for(int i = 0; i < period; i++) { sum_x += i; sum_y += price[shift + i]; sum_xy += i * price[shift + i]; sum_x2 += i * i; } double m = period; double slope = (m * sum_xy - sum_x * sum_y) / (m * sum_x2 - sum_x * sum_x); double intercept = (sum_y - slope * sum_x) / m; return intercept; } //+------------------------------------------------------------------+ //| Custom indicator iteration function | //+------------------------------------------------------------------+ int OnCalculate(const int rates_total, const int prev_calculated, const datetime &time[], const double &open[], const double &high[], const double &low[], const double &close[], const long &tick_volume[], const long &volume[], const int &spread[]) { // Check for minimum data int min_bars = MathMax(LengthBB, LengthKC) + 1; if(rates_total < min_bars) return(0); // Set arrays as series for proper indexing ArraySetAsSeries(high, true); ArraySetAsSeries(low, true); ArraySetAsSeries(close, true); // Calculate start point int limit; if(prev_calculated == 0) limit = rates_total - min_bars; else limit = rates_total - prev_calculated; limit = MathMin(limit, rates_total - min_bars); // Prepare arrays for source calculation double source[]; ArrayResize(source, rates_total); ArraySetAsSeries(source, true); // Main calculation loop for(int i = limit; i >= 0; i--) { // Calculate Bollinger Bands double basis = 0.0; for(int j = 0; j < LengthBB; j++) basis += close[i+j]; basis /= LengthBB; double dev = 0.0; for(int j = 0; j < LengthBB; j++) dev += MathPow(close[i+j] - basis, 2); dev = MultBB * MathSqrt(dev / LengthBB); double upperBB = basis + dev; double lowerBB = basis - dev; // Calculate Keltner Channels double ma = 0.0; for(int j = 0; j < LengthKC; j++) ma += close[i+j]; ma /= LengthKC; double range_sum = 0.0; for(int j = 0; j < LengthKC; j++) { double tr; if(UseTrueRange && i+j+1 < rates_total) tr = MathMax(high[i+j] - low[i+j], MathMax(MathAbs(high[i+j] - close[i+j+1]), MathAbs(low[i+j] - close[i+j+1]))); else tr = high[i+j] - low[i+j]; range_sum += tr; } double range_ma = range_sum / LengthKC; double upperKC = ma + MultKC * range_ma; double lowerKC = ma - MultKC * range_ma; // Calculate squeeze conditions bool sqzOn = (lowerBB > lowerKC) && (upperBB < upperKC); bool sqzOff = (lowerBB < lowerKC) && (upperBB > upperKC); bool noSqz = !sqzOn && !sqzOff; // Find highest high and lowest low for KC period double highest = high[i]; double lowest = low[i]; for(int j = 1; j < LengthKC; j++) { if(i+j >= rates_total) break; if(high[i+j] > highest) highest = high[i+j]; if(low[i+j] < lowest) lowest = low[i+j]; } // Calculate source for linreg double avg_hl = (highest + lowest) / 2; double avg_val = (avg_hl + ma) / 2; for(int j = 0; j < LengthKC; j++) { if(i+j >= rates_total) break; source[i+j] = close[i+j] - avg_val; } // Calculate momentum with linear regression MomentumBuffer[i] = LinReg(source, LengthKC, i); // Set squeeze line value (always 0) SqueezeBuffer[i] = 0; // Set colors based on conditions exactly as in Pine Script // bcolor = iff(val > 0, iff(val > nz(val[1]), lime, green), iff(val < nz(val[1]), red, maroon)) if(i < rates_total - 1) { if(MomentumBuffer[i] > 0) { if(MomentumBuffer[i] > MomentumBuffer[i+1]) MomentumColorBuffer[i] = 0; // lime else MomentumColorBuffer[i] = 1; // green } else { if(MomentumBuffer[i] < MomentumBuffer[i+1]) MomentumColorBuffer[i] = 2; // red else MomentumColorBuffer[i] = 3; // maroon } } else { // For the first bar MomentumColorBuffer[i] = (MomentumBuffer[i] > 0) ? 0 : 2; // lime or red } // scolor = noSqz ? blue : sqzOn ? black : gray if(noSqz) SqueezeColorBuffer[i] = 0; // blue else if(sqzOn) SqueezeColorBuffer[i] = 1; // black else SqueezeColorBuffer[i] = 2; // gray } return(rates_total); } //+------------------------------------------------------------------+
Files:
Squeze_Momentum.mq5
9 kb
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Bollinger Squeeze Basic MT5:
Bollinger Squeeze Basic MetaTrader indicator — is a complex indicator based on Momentum, Bollinger bands, and Keltner channel. The indicator is drawn in the separate window of the chart as a Momentum histogram and a range of dots when show the relationship between the current Bollinger bands and Keltner channel values. This indicator is available for both MT4 and MT5 versions of the trading platform.
Author: Tuan Nguyen Van