YFX Advanced Bands Squeeze
- Richard Yancy
- Version: 6.0
- Updated: 12 June 2020
- Activations: 5
The Advanced Bands Squeeze indicator is a custom indicator based on the classic Bollinger Bands as created by John Bollinger. The Bollinger Band Squeeze occurs when volatility falls to low levels and the Bollinger Bands narrow. This low volatility level is called a “Squeeze”.
According to John Bollinger, periods of low volatility are often followed by periods of high volatility, where prices tend to move a lot in either direction. Therefore, a volatility contraction or narrowing of the bands can foreshadow a significant advance or decline. Once the squeeze play is on, a subsequent band break signals the start of a new move. Note that the “Squeeze OFF” condition only signals that a move is starting but it does not signal the direction of the move. A new advance starts with a “Squeeze OFF” signal and subsequent break above the upper band. A new decline starts with a “Squeeze OFF” signal and subsequent break below the lower band.
- Color-coded visual representation of the Squeeze status.
- Customizable Bollinger Bands and Standard Deviations.
- Customizable color, size, and visibility of all GUI objects.
- Bands and Price crossings can be shown on the chart
- Trade signals are calculated and shown on chart. Signals can be sent to trader using many different methods. NOTE: These signals are not trade advice but only indicates that certain conditions have occurred.
- Indicator statistics are customizable and can be shown on the chart.
The Advanced Bands indicator has many configurable parameters. This allows for all aspects of the indicator to be changed for the user’s preferences. By default, the indicator is designed to work without any changes by the user. The parameters are divided into the following categories:
- Yancy Indicator Parameters
- Bollinger Bands Parameters
- Squeeze Parameters
- BB Band Width Parameters
- Crosses Parameters
- Signals Parameters
- Squeeze Statistics Parameters
- Message Parameters
- Quiet Time Parameters
- Debug Parameters
It should be noted that the user does not have to change any parameters for the indicator to work. All parameters have default values that have the lowest impact on the indicator and user. The Advanced Bands Squeeze indicator is designed to work perfectly by just placing it on a chart.