Author: Akuma99
If you're looking to sharpen your trading edge, the Bollinger Squeeze indicator for MetaTrader 5 is a tool worth considering. This nifty trend indicator operates in four distinct states, making it versatile for various market conditions.
One of the standout features of this indicator is its ability to let you choose a source for trend detection via the triggerType input parameter. Here are the options you can select from:
- iStochastic
- iCCI
- iRSI
- iMACD
- iMomentum
When a strong trend is detected, the histogram will light up in vibrant red and green. Conversely, weaker trends are depicted in softer shades of purple and blue. This visual cue is bolstered by the use of the iATR and iStdDev indicators, which help gauge the strength of the trend.
This indicator first made its debut in MQL4 and was published in the Code Base at mql4.com back on March 12, 2008.
Figure 1. The Bollinger Squeeze v9 Indicator
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