MT4 TTM Squeeze Indicator (Scanner)
MT4 TTM Squeeze Indicator identifies the transition between consolidation and directional movement using Bollinger Bands, Keltner Channel, and a Momentum Oscillator. The scanner monitors squeeze conditions and momentum direction across all specified assets and timeframes through a structured dashboard.
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What the TTM Squeeze Indicator (Scanner) Does
The TTM Squeeze Indicator is built around a specific market dynamic: before a significant directional move, price typically compresses into a tight range. The indicator identifies this compression phase and registers when price begins to exit it — providing a structural reference point for evaluating potential momentum expansion.
The indicator combines three components: Bollinger Bands, the Keltner Channel, and a Momentum Oscillator. Each measures a different aspect of price behavior, and their combined output drives both the squeeze detection and the directional reading.
The Three Components
The core of the indicator is the relationship between Bollinger Bands and the Keltner Channel.
Bollinger Bands
Measure price deviation from a moving average. When the bands narrow, volatility has contracted and price is in compression. When they widen, volatility is expanding.
Keltner Channel
Built from the Average True Range — the average price range over a defined period. It provides a volatility envelope based on ATR rather than standard deviation.
Momentum Oscillator
Tracks the rate of price change over a defined period. Its position and direction relative to the zero line indicate which way momentum is developing as price exits compression.
The squeeze condition is defined by the relative position of these two envelopes: when Bollinger Bands are inside the Keltner Channel, price is in compression — represented by red dots on the indicator. When Bollinger Bands expand beyond the Keltner Channel, the compression has ended and price is entering an expansion phase — the dots turn green.
The combination works as a two-step reading: the dots indicate when compression ends, and the histogram indicates which direction the momentum is developing.
How to Interpret and Use the TTM Squeeze Indicator
A condition is registered when two things happen together: the dots transition from red to green — indicating the end of a squeeze — and the histogram crosses or develops momentum in a defined direction.
Two Detection Modes
The indicator supports two detection modes, selectable in the settings:
Standard mode — a bullish condition is registered when the dots turn green and the histogram is above zero. A bearish condition is registered when the dots turn green and the histogram is below zero.
Ascent/Descent mode — a bullish condition is registered when the histogram is rising, regardless of its position relative to zero. A bearish condition is registered when the histogram is falling. This mode focuses on the direction of momentum change rather than its absolute position.
One additional parameter — ttm_squeeze_length — sets the minimum number of consecutive red dots required before a condition can be registered. This ensures that only squeezes of sufficient duration are considered, filtering out brief compressions that may not carry the same structural significance.
The indicator does not redraw registered conditions — a condition that appears on a formed bar remains on that bar.
Multi-Asset Monitoring with the Dashboard
The dashboard displays the current squeeze and momentum status across all monitored assets and timeframes in a single structured view.
Each cell shows the directional context of the most recently registered condition — bullish or bearish — and the number of bars back at which it was registered. Green cells indicate a bullish condition, red cells a bearish one. Color saturation decreases as the condition becomes less recent. Clicking any cell updates the chart to the corresponding asset and timeframe directly.
Indicator Limitations — The TTM Squeeze Indicator reflects calculations based on historical price and volatility data. A registered condition indicates that compression has ended and momentum is developing in a defined direction — it does not predict the magnitude or duration of the subsequent move. Price can exit a squeeze and immediately re-enter compression, or develop momentum in the opposite direction to the registered condition. All readings should be evaluated within a broader analytical framework.
Indicator Settings & Parameters
The indicator has the following parameters.
| Parameter | Description |
|---|---|
| Scanner & Alerts | |
| Assets | Instruments to include in the scanner. |
| Enable_M1–MN | Include or exclude individual timeframes from the scanner scope. |
| Max_bars | Limits how far back the scanner evaluates conditions. Reducing this value improves calculation speed. |
| Enable alert / Enable email / Enable mobile | Alert delivery: platform notifications, email, or mobile — each configurable independently. |
| TTM Squeeze | |
| Signal_mode | Selects the detection mode:
|
| TTM Squeeze settings | Configures the core parameters: period, Bollinger Bands standard deviation, and Keltner Channel multiplier. |
| ttm_squeeze_length | Sets the minimum number of consecutive red dots required for a condition to be registered. |
System Requirements & Installation
What you need to run the indicator, how to download and install it in MetaTrader 4, and how the license works.
System Requirements
- Platform
- MetaTrader 4 (Desktop)
- Operating system
- Windows 10 or Windows 11
- Instruments
- Forex pairs, metals, indices, CFDs and other symbols available from your broker in MetaTrader 4
- Data
- Your broker’s price feed in MetaTrader 4
Not available on MetaTrader 4 Web or Mobile. Custom indicators run in the MetaTrader 4 desktop terminal only.
License Terms
- Lifetime License
- This indicator only, 1 live and 1 demo account, one-time payment, free updates included.
- All-Access Subscription
- All indicators and trade copiers, billed monthly, cancel anytime, updates included while the subscription is active.
- Free trial
- 5 days on the subscription plan. If not cancelled, the subscription starts automatically.
- License binding
- Linked to your email and to your MetaTrader 4 trading accounts: one live account and one demo account.
- Computers
- Not restricted. The license is linked to your trading accounts, not to a specific computer.
Installation
- Get access
Start the free trial, subscribe, or buy a lifetime license on this page.
- Download
The indicator is not sent by email. Open (top right of this page) and enter the email you used for your trial, subscription or purchase. The indicator file (.ex4) downloads to your computer.
- Copy to the MetaTrader 4 data folder
In MetaTrader 4, go to
File → Open Data Folder, openMQL4 → Indicatorsand copy the downloaded .ex4 file there. - Add to a chart
Restart MetaTrader 4 or right-click Indicators in the Navigator window and select Refresh. Then drag the indicator from the Navigator onto a chart.
- Activate the license
In the indicator inputs, enter the same email. On first activation, the license is linked to that email and to the trading account the terminal is logged into.
If MetaTrader 4 asks for additional permissions when the indicator is attached, such as DLL imports or WebRequest access, allow them in the indicator’s Common tab or under
Tools → Options → Expert Advisors.
Updating: When a new version is released, download it again through and replace the existing .ex4 file in the same folder.
Installation questions? Contact support, Monday to Friday.
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Disclaimer — Software Use & Risk Disclosure
Nordman Algorithms is a trade name of Nordman Algorithms OÜ (Reg. No. 14435535), registered in Tallinn, Estonia.
Software Use
Software Nature & User Responsibility — Nordman Algorithms provides algorithmic software tools for technical analysis. Nordman Algorithms is not a financial advisor and is not liable for any losses. All trades conducted based on the software’s output are executed at the user’s sole discretion and risk.
Visual Markers & Signal Disclosure — This software may display visual markers (such as arrows, dots, or alerts) when predefined mathematical conditions are met. These markers are provided for educational and analytical purposes only, must not be interpreted as financial guidance, and do not constitute a recommendation to buy, sell, or hold any financial instrument. Users must independently validate all visual cues within their own trading methodology.
No Financial Advice — Nordman Algorithms does not provide discretionary trading signals, investment advice, or managed signal services. Our software represents a mathematical visualization of historical and real-time data. The appearance of a visual marker does not guarantee a profitable trade or predict future market behavior.
Read the full Terms of Service →Risk Disclosure
Trading Risk Warning — Futures, Forex, and options trading involve significant risk. Risk capital is money that can be lost without jeopardizing financial security. Only risk capital should be used for trading. Past performance is not indicative of future results. An investor could potentially lose all or more than the initial amount committed.
ESMA Risk Warning — Financial instruments, especially those involving leverage such as CFDs and Forex, are complex and carry a high risk of rapid financial loss. Our software provides analytical outputs and visual markers based on predefined mathematical conditions and does not mitigate or reduce inherent market risks. You should carefully consider whether you understand how leveraged financial instruments work and whether you can afford the high risk of losing your capital.
CFTC Rule 4.41 — Hypothetical or simulated performance results have inherent limitations. Unlike actual performance records, simulated results do not represent real trading. Because trades have not actually been executed, these results may under- or over-compensate for the impact of market factors such as liquidity. Simulated results are also subject to the benefit of hindsight. No representation is being made that any account will achieve profits or losses similar to those shown.
Read the full Risk Disclosure →Trademark Notice — MetaTrader 4 and MT4 are trademarks of MetaQuotes Ltd. Nordman Algorithms is an independent software developer and is not affiliated with, sponsored by, or endorsed by MetaQuotes Ltd. References to MetaTrader 4 identify software compatibility.
Need a different setup?
We can customize this indicator to your requirements: add new features, change the calculation logic, or combine several tools into a single solution. We also build Expert Advisors on your own logic, with configurable modules such as dynamic risk parameters, multi-stage trailing stops and additional confirmation filters.
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