Bollinger Keltner Squeeze
This is the construction popularised by trader John Carter as the "TTM Squeeze": rather than judging volatility from Bollinger width alone, it compares two different volatility measures against each other. Bollinger Bands are built from standard deviation of price; the Keltner Channel here is built from ATR. When the standard-deviation-based bands narrow enough to sit entirely inside the ATR-based channel, price has compressed by both measures at once, which is read as a stricter, higher-conviction squeeze condition than either measure alone would give. While the squeeze is on, a momentum histogram - a linear-regression fit of price against its own Donchian/SMA midline, evaluated at the most recent bar - shows which direction the market has been leaning during the compression. It is not a prediction of the breakout direction, only a read on the tilt of price during the quiet period, which is frequently informative but not reliable enough to trade blind. BollingerSqueeze, elsewhere in this collection, uses the simpler single-band percentile method; running both side by side and trusting a squeeze reading more when they agree is a common way traders use the two together. Notes and limitations - Needs InpBandsPeriod + 1 bars of history before the first reading appears; earlier bars are intentionally left empty. - The momentum histogram is a regression fit re-evaluated fresh on every bar from raw price, never from its own previous output, so it cannot repaint once a bar closes. - A squeeze firing is not itself an entry signal - it only means the compressed range has released. Direction still needs to be confirmed by the momentum histogram's colour or another tool. - The dual-band condition is stricter than BollingerSqueeze's percentile method, so it will flag fewer squeezes and sometimes miss gradual compressions the percentile method would catch.
Indicator · MT4 · v1.0 · Free
About Bollinger Keltner Squeeze
Bollinger Keltner Squeeze is an indicator for MetaTrader 4 based on Bollinger Bands and ATR. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 4 settings, such as Bands period, Bands deviation and Keltner atr mult. MQL source code included.
Files in the download: BbKcSqueeze.ex4, BbKcSqueeze.mq4, BbKcSqueeze.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Bands period | 20 | Bollinger Bands / Keltner Channel period |
| Bands deviation | 2.0 | Bollinger Bands standard deviation multiplier |
| Keltner atr mult | 1.5 | Keltner Channel width, in ATR multiples |
| Alerts | true | Alert once when the squeeze fires (turns off) |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Breakout · Bollinger Bands · ATR · Momentum · Channels & Envelopes · Buy/Sell Arrows · Alerts · MT4 Indicator · MQL4 Source Code