The Bollingers Bands Squeeze with Demarker forex indicator for MT4 is based on Bollinger Bands together with the Demarker technical indicator.
The indicator oscillates above and below the neutral zero mark level.
Price action above the zero mark level is considered bullish while below bearish.
Use the Bollingers Bands Squeeze with Demarker in conjunction with a trend indicator such as an exponential moving average, ADMI or a simple moving average to create a forex system that works.
First determine the overall trend with the trend following indicator, then use the Bollingers Bands Squeeze with Demarker forex indicator to trade in the direction of the underlying trend.
Overall trend upward? Wait for the oscillator to cross back above the zero mark line from below.
Overall trend downward? Wait for the oscillator to cross back below the zero mark line from above.
All default indicator’s period settings can be fully modified from the inputs settings tab.
The USD/JPY 1-Hour chart below displays the Bollingers Bands Squeeze with Demarker Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Bollingers Bands Squeeze with Demarker MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open a buy trade position when the oscillator bars cross back above the zero level from below (bullish).
Sell Signal: Open a sell trade position when the oscillator bars cross back below the zero level from above (bearish).
Trade Exit: Use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (trigger type, stochastic period, cci period, MACD fast, MACD slow, Momentum, Williams R, ADX trigger, Demarker) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Bollinger bands
Copy and paste the bollinger-squeeze-with-demarker.mq4 into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)