BBsqueeze Indicator

BBsqueeze Indicator

BBsqueeze indicator for MT5. Best forex bar charts for bullish and bearish forex trading signals with zero line signal filter.

The BBsqueeze Indicator for MT5 identifies the best Forex trading opportunities using Bollinger Band Squeeze as it helps the trader enter the trend earlier. In addition, the indicator combines the Keltner channel and momentum indicator to confirm and filter trades.

Bollinger bands contraction signals an upcoming big market move, which could be BULLISH or BEARISH. But the BBsqueeze indicator provides BUY and SELL trading signals based on histograms. The indicator not only provides the best entry signals but also helps the forex trader follow the trend.

The indicator is well suited for beginners and experienced forex traders. New traders can use the histogram and identify BUY and SELL signals, as well as get trend reversal information from the histogram and exit early. However, advanced forex traders can use the indicator in complex forex trading strategies.

Moreover, since the indicator can be applied to all intraday charts as well as daily, weekly and monthly price charts, it can be used to trade multi-timeframe technical trend trading strategies. (mtf). In addition, forex traders can use indicators for automated trading since the output can be easily coded for integration into sophisticated forex automated trading software.

BBsqueeze Indicator For MT5 Trading Signals

The EURUSD M30 chart above shows the BBsqueeze indicator for MT5 in action. The indicator plots bullish and bearish histograms in SeaGreen and Magenta colors, respectively. In addition, it displays the zero line in blue and purple.

If the histogram crosses the zero line and moves up the SeaGreen histogram, it indicates a BULLISH signal. But forex traders should wait for another confirmation by watching the color of the zero line. If the zero line color is purple, traders should avoid entering a position and wait for the zero line to turn blue.

Forex traders can place a BUY trade after the histogram and zero line trade signals are confirmed. The best stop loss is below the previous low or when the histogram or zero lines change in the opposite direction. Similarly, traders can follow the trend and exit with a profit when the color of the histogram or zero lines changes.

Conversely, if the color of the histogram changes to magenta, it shows that the price is turning into a bearish trend. With additional confirmation of the presence of the blue zero line, traders can open a SELL position with a stop loss above the previous swing high. On the other hand, forex traders can exit when the color of the bar chart or zero lines changes. The best way to take profits is to follow the trend as long as the histogram is bearish and the zero line remains blue.

Conclusion
The BBsqueeze indicator for MT5 is a combination of Bollinger Bands, Keltner Channel and Momentum indicators. The indicator allows the trader to catch the trend earlier as the indicator helps the trader to anticipate more price movement. In addition, the indicator is free to download and easy to install.