The Bollinger Squeeze V9 Scalper indicator for Metatrader 5 is a valuable tool that delivers precise buy and sell signals to scalpers and day traders.
It’s composed of a variety of technical indicators, including Bollinger Bands, RSI, CCI, Stochastic, and MACD.
The indicator is loaded onto a dedicated chart window as colored histogram bars that appear above and below the 0 level.
Here’s how to identify bullish and bearish market sentiments:
- Histogram bars above 0 are bullish, signalling a potential buy trade entry.
- Histogram bars below 0 are bearish, signalling a potential sell trade entry.
The indicator allows customization of the following settings and parameters: trigger type, stochastic trigger, CCI trigger, RSI period trigger, MACD trigger, momentum trigger, colors, and more.
Familiarize yourself with this technical indicator and test it first on a demo account for an extended period.
Keep in mind that its overall performance will vary depending on market conditions, so remember to have realistic expectations
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The following image shows how the Bollinger Squeeze V9 Scalper indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Bollinger Squeeze V9 Scalper Indicator?
Find a simple trading example below:
- Buy market condition: the overall market trend should be clearly upward.
- A buy signal is generated when a green colored bar above 0 is displayed on the chart.
- Exit the buy trade to secure a profit of 8-20 pips.
- Alternatively, await a sell signal to close the buy position.
- Sell market condition: the overall market trend should be clearly downward.
- A sell signal is generated when a red colored bar below 0 is displayed on the chart.
- Exit the sell trade to secure a profit of 8-20 pips.
- Alternatively, await a buy signal to close the sell position.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the bollinger-squeeze-v9.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration