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Bollinger Band Squeeze with Sound Alerts
Exported using NT Version 7.0.1000.11
This is a simple Bollinger Band Squeeze. The Bollinger Band Squeeze compares directional volatility as measured by the standard deviation to non-directional volatility as measured by the average range.
The squeeze is a situation, where Bollinger Bands are inside a Keltner Channel. This indicator does not plot the Bollinger Bands and the Keltner Channels, but plots the distance of the Bollinger Band from the Keltner Channel and displays it as a histogram.
When the histogram has a positive value
: This means that the Bollinger Bands are outside the Keltner Channel. Directional volatility is high or normal.
When the histogram has a negative value:
This shows low directional volatility, which is called "the squeeze". For better visibility, the squeeze is reinforced with dots. When activated, sound alerts will inform you that the squeeze is on.
A squeeze is a good opportunity to enter a position, as it reflects a temporary period of balancing or indecision. To determine the direction of the expected breakout from the squeeze, other indicators should be used. In his book "Mastering the Trade", John F. Carter suggests a momentum indicator do determine the direction of the trade, but I do not think that this is sufficient to create a profitable system. You will need further indicators.
If you enter a trade during a squeeze, this usually leads to a good reward-to-risk ratio, as you will typically be able to use narrower stops during low volatility periods.
Category
NinjaTrader 7 Indicators
Details:
Bollinger Band Squeeze with Sound Alerts
Category:
NinjaTrader 7 Indicators
February 24th, 2013
Size: 8.34 KB
Downloaded: 2486 times
Keywords:
bollinger
bollingerbands
range
squeeze
standarddeviation
truerange
1370
Fat Tails
Comments/ratings
Houston Jr
February 25th, 2013 04:11 PM
I noticed you were using a 15 min interval, please comment
tony2604
February 27th, 2013 03:40 AM
Fat Tails, great - as always. Thank you!
bamawthu
February 28th, 2013 09:42 AM
No Comment
datahogg
March 11th, 2013 07:53 AM
Fat Tails , you get an A+ in all areas. Thanks for your effort.
Quantum
March 29th, 2013 05:48 AM
No Comment
TF780
June 20th, 2013 02:51 PM
Fat tail is very creative! Thank you!
Anatta
July 31st, 2013 06:23 PM
No Comment
theidman
August 18th, 2013 07:20 PM
Thank You
Bobi
October 23rd, 2013 02:10 PM
Thank You.
TheOldGreyWolf
January 18th, 2014 09:16 PM
Thank You for working this.
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