This indicator will show you the speed at the price of a symbol is fluctuating over time and as you cannot predict the momentum by looking at the charts which is the change of price you can use a momentum indicator to notify you when there is a price change for your traded symbol. The cTrader Squeeze Momentum Indicator works by mathematically calculating the rate of change of a currency pair price to determine the strength of the current market trend.
How it Works
The Squeeze Momentum indicator was created by John Carter and it measures the relationship between Bollinger Bands, Keltner's Channels & the Donchian Channel, so when the volatility increases, the distance between the bands, conversely, when the volatility declines, the distance also decreases. To produce signals the Squeeze indicator is shown with a Momentum Oscillator where the histogram bars is smoothed up with linear regression and other techniques.
When the indicator shows Green dots and Up Histogram bars (blue) the squeeze is on for a bullish trend, when the indicator shows Green dots and the Down Histogram bars (red) it is the squeeze for a bearish trend.
You can use this Indicator on any timeframe, unfortunately, we hope that the user settings are self-explanatory, but if you need help then post your question on our support group.
How To Install & Open
First, make sure you have the cTrader trading platform installed and then simply unzip the file and double-click on it to automatically install it onto the platform. Remember, this is an Indicator.
Source Code Included
This product was created by Spotware and the full source code is included to allow you to modify and use it with any automated trading system.
Custom Development Work
As this indicator is open source you can request custom development work to modify and improve it, you get to keep the full source code after, just get in touch with us below.
Join Telegram Community
You can join a Telegram community and chat with other traders to discuss, share and ask for help.