MT4 TTM Squeeze Indicator is made up of two main components for calculation: these are the dots that indicate the beginning / end of a squeeze (impulse price movement) and of the histogram of this impulse.
The indicator is based on price compression measurement data using Bollinger Bands and the Keltner Channel . The idea of the indicator is to help the trader to indicate the beginning of a certain trend, it can be either going down or vice versa.
Thanks to the TTM Squeeze Indicator, a trader can determine the moment before an asset enters a trend, so the trader has the opportunity to prepare a trade in advance.
The dots represent Bollinger Band and Keltner Channel data. When Bollinger Bands pass through the Keltner Channel, the asset is in compression/consolidation, represented by red dots. When the Bollinger Bands exit the channel, the dots turn green, which means that there has been an impulse in one of the directions. Focusing on these dots, the best moment to make a deal is considered to be the transition from red to green dots.
The histogram, in turn, shows whether the price is in the upward or downward direction of the momentum. If the levels on the histogram rise above 0, then an upward impulse is expected. If the histogram levels begin to fall below 0, then this indicates a downward momentum.
TTM Squeeze is a good trading tool because it relies on a combination of signals on the chart. The other indicators it includes give more confidence and a more correct entry point.
TTM Squeeze Indicator includes several tools:
The combination of these tools helps traders to choose the right entry points. This combination of instruments gives signals about the upcoming market movement and a possible trend change.
MT4 TTM Squeeze Indicator also has a high level of functionality. It includes setting alerts for emerging signals.
It also has an asset scanner, that is, if you have set the necessary assets for transactions in the settings, the scanner will give you a signal when there is a price movement on them. When a signal arrives, information about the asset will be displayed on the dashboard, then, in one click, it will be possible to move the chart of this instrument.
TTM Squeeze does not redraw signals, which is different from many other indicators on the market.
A signal about a possible desired price movement is determined by a combination of warnings in the indicator.
The squeeze is displayed as a series of red dots located on the histogram. The confirmation of the signal will be the intersection of the Bollinger bands, the Keltner channel and the oscillator.
When the dots turn green, the price of the asset exits the consolidation state, and at this moment, if the histogram rises above the base level, this is a buy signal. If the histogram breaks the base level down, this is a sell signal.
The main purpose of the indicator is to determine the moment when the price begins to exit the consolidation state. Two tools that TTM Squeeze Indicator includes are the Bollinger Bands and Keltner Channel – help to determine this moment better than any other tool. Therefore, the use of this indicator will be extremely useful for traders of any level.
The dashboard shows information about the current status of detecting signals.
The cell of the asset / timeframe contains information about the direction of the trade (BUY or SELL) and the serial number of the bar (the number of bars back) on which the signal was detected.
The color of the cell indicates the direction of the trade (BUY – green, SELL – red) and changes the saturation of the main color depending on how much the distance of the bars from the last bar on which the signal was detected increases.
The dashboard allows traders to easily and fastly choose the assets they want to work with by clicking on a particular cell in the dashboard.
The indicator has the following parameters:
assets – selection of assets to search for signals.
enable_M1 – enable_MN – include / exclude timeframes (from a minute to a month) to search for signals via them.
max_bars – the maximum number of bars back, by which the scanner will search for signals. The parameter limits the number of calculations to speed up the indicator.
enable_alert – the option enables / disables alerts.
enable_email – allows you to send email alerts.
enable_mobile – allows you to send alerts to your mobile device.
TTM Squeeze settings – setting individual indicator parameters (Period, Bollinger Bands standard deviation, Keltner Channel multiplier).
ttm_squeeze_length is a special function that allows you to set the minimum number of red dots (enabled squeeze points) for a signal to appear.
We can also turn the indicator into an Expert Advisor (trading robot) with an extended set of custom functions (stop loss, take profit, trailing stop, risk management parameters, trading time limit, and others).
Request a free consultation from our team of professional programmers and find out the cost and timing of your project development.
Nordman Algorithms is not liable for any risk that you face using the software. Please, use the software on your own responsibility. The software is coded in accordance with a common known concept and Nordman Algorithms does not guarantee accuracy or trading performance of the software signals.
