Squeeze Break
Squeeze Break — a MetaTrader 4 indicator kept in the Old Kings collection. Its source code uses MACD, RSI, the Stochastic oscillator and moving averages. It draws arrows on the chart and can send alerts. It has 8 settings, for example Boll Period (default 20), Boll Dev (default 2.0) and Keltner Period (default 20). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 2 indicator files with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Indicator · MT4 · v1.0 · Free
About Squeeze Break
Squeeze Break is an indicator for MetaTrader 4 based on MACD, RSI, Stochastic and Moving Average. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 8 settings, such as Boll period, Boll dev and Keltner period. MQL source code included.
Files in the download: For More Free Indicators.txt, Squeeze Break Indicator.ex4, Squeeze Break Indicator.mq4, Squeeze Break template.tpl.
Settings
| Setting | Default | What it does |
|---|---|---|
| Boll period | 20 | Period or timeframe used by the calculation |
| Boll dev | 2.0 | |
| Keltner period | 20 | Period or timeframe used by the calculation |
| Keltner mul | 1.5 | |
| Momentum period | 12 | Period or timeframe used by the calculation |
| Back bars | 1000 | |
| Alert on | true | Turn this alert on or off |
| On screen info | true |
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: Buy/Sell Arrows · Alerts · MACD · RSI · Stochastic · Moving Average · MT4 Indicator · MQL4 Source Code