If you're on the lookout for a handy tool to boost your trading game, let me introduce you to my version of the Squeeze Indicator for MetaTrader 4. This indicator is inspired by the strategies laid out in John Carter's book, Mastering the Trade, and serves as a refined take on the Squeeze_Break indicator developed by Des O'Regan.
One of the standout improvements in this version is how it plots squeeze values, with some tweaks on the Bollinger Bands (BB) and Keltner Channels (KC) calculations. These adjustments help visualize momentum more clearly, presenting rising and falling positive and negative histograms that are easy on the eyes—similar to those you might find on premium trading platforms. Plus, I’ve incorporated some of the Linear Regression code from Victor Nicolaev, also known as Vinin, specifically his V_LRMA.mq4, to achieve that smooth histogram effect.
It’s worth mentioning that this version of the Squeeze Indicator doesn't include alert functionalities, nor does it have adjustable inputs. Why? Because this is V1, and in most cases, traders stick with the default BB and KC values anyway.
Check out this chart on the D1 timeframe:
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