TTM Squeeze Indicator for MT5
TTM Squeeze is an indicator to time entries based on volatility.
Good timing might be more important than direction. If you are right with direction but you don't have correct timing then you could end up losing money in the market.
If you have good timing and only pick direction correctly 50% of the time you might be profitable with correct risk management.
The indicator will plot red and white points (squeeze line in the center) and histogram (above and below the center line).
When the indicator draws red points then it means the market is ready to shoot (see example in screenshot).
The histogram tell us about the strength of the momentum in price. This is an indication of the direction of the next move.
You can customize colors for the indicator, both for the squeeze line and the histogram.
You can receive alerts once a signal is confirmed (at the close of the candle). You have many options to receive the alerts: popup window, email, notification, sound.
- Period (default 20) - period used for the calculations of the Bollinger and Keltner bands
- BollingerMulti (default 2.0) - is the factor used for calculation of the Bollinger bands with the standard deviation.
- KeltnerMulti (default 1.0) - is the factor used for the calculation of the Keltner bands with the true range.
- UseAlerts (true/false) - set to true to enable alerts management.
- PopupAlerts (true/false) - set to true to receive alerts of type pop-up box window.
- EmailAlerts (true/false) - set to true to receive alerts over email.
- PushAlerts (true/false) - set to true to receive alerts to your mobile using MetaTrader notifications.
- SoundAlerts (true/false) - set to true to receive alerts of type sound.
- SoundFile - name of wav file to be used to play sound alerts.
Some indicators use simplified formulas for the calculation of the squeeze. This indicator uses the complete formulas as designed by the original creator of the indicator.
The indicator can be used with any class of instruments: forex, stocks, commodities, etfs, bonds.
The indicator can be used with any time frame.
The higher the time frame you choose, the smaller the quantity of signals.
For my personal use, I like to trade the H1 time frame.
The indicator will give few signals but they are quite accurate.