Trading With The TTM Squeeze Indicator

Aug 15, 2020 | 0 comments

The forex market is very promising with high hopes if you arm yourself with the right technical indicators like TTM Squeeze Indicator MT4. And that along with having knowledge on how to use them. It is one thing to know about a tool and another thing to make the most of the tool. While there is a broad range of volatility-related technical indicators designed for traders to use, choosing the right one to trade the market for profit can be a headache if you are a novice in the forex world.

Thankfully, we have got your back. One of such tools on the market that’s designed to predict volatility is the TTM Squeeze Indicator. This indicator can be applied to the Futures, Bonds, Options, Stocks, and forex markets. It works in conjunction with eSignal, Tradestation, and Sierra Charts. So let’s discover if this one makes our Best Metatrader Indicators list.

Today, you will learn an overview of the indicator, how to trade with the indicator, benefits and drawbacks of using the indicator and wrap up with the installation process.

Overview of The Indicator

The TTM Squeeze Indicator MT4 is a custom technical indicator designed to time entries based on volatility. While in operation, the indicator plots white and red points in the center and histogram below or above the center line. The moment the TTM indicator plots red points, it means the market is ready to trade, as seen in the screenshot below.

When it plots histogram below or above the center line, the indicator shows the direction of the next move. The histogram usually informs traders the strength of momentum in price. Plus, you are free to adjust the default colors to suit your trading preferences both for the histogram and the squeeze line.

At the close of the candle, the indicator can alert or notify you once a new signal is confirmed. You can receive the alert via email, pop-up window, sound, or even notification. While other volatility indicators use basic formulas to calculate the squeeze, the TTM Squeeze Indicator MT4 goes beyond that – it uses the complete formulas to arrive at the squeeze. Plus, it works with all timeframes.

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Benefits And Drawbacks Of Using The TTM Indicator

The major benefit of using the TTM indicator is that it allows forex traders to detect the periods in the price of an asset, especially when the price is preparing to move in one direction. As a trader, this means, you will easily spot the period before a big move.

Another advantage of using the TTM indicator is that it helps traders to generate entry and exit signals, which will enable traders to get on a new trend. This means traders can leverage this indicator to capitalize on the market to generate profits.

Using the indicator can also aid traders to stay on a trend by mapping out the current direction of the trading asset. With this in mind, traders can easily spot entry and exit points to either stay put or leave a trade position before losing money to market forces.

Furthermore, the indicator serves as trading opportunities for forex traders to take off some of the profits they have earned from a current position. Ultimately, traders will learn the correct method of taking profits on the market. Also, the indicator works on all timeframes and the majority of currency pairs.

Drawbacks

The only drawback of using this indicator is that, sometimes, it can generate false signals when used in isolation. Therefore, endeavor to use the indicator with other technical indicators like oscillator (stochastic, momentum, MACD) to increase your chances of earning a profit.

How To Trade With The Indicator

The TTM Squeeze Indicator MT4 moves between extremely bearish (-0.422) and extremely bullish (0.1611).

Trading Signals

1. Buy signal: Place a buy order or go long when you observe the first blue bar.
2. Sell signal: Place a sell order or go short when you observe the first red bar.

Installing The Indicator

1. Download the TTM Squeeze Indicator MT4 from the MQL5 marketplace
2. Save the Indicator file on the location where you can remember easily
3. Copy the Indicator file and paste it in the MT4 indicator directory folder
4. Start or restart the MT4 trading platform
5. Select the preferred chart you want to add an indicator on
6. Once you are on the chart, navigate to the indicator directory folder
7. Look out for the TTM indicator
8. Right-click on the indicator and attach it to the chart
9. The Indicator will be on your charts now

Remove The Indicator

Removing the TTM Squeeze indicator is pretty simple. Just follow the process below:

1. Start your MT4 trading platform
2. Navigate to the indicator directory folder
3. Look out for the TTM indicator
4. Right-click on the indicator to remove
5. You won’t see the direction again on your chart

Indicator Settings

You can adjust the following indicator’s settings to suit your preference:

1. Period: This is the period used to calculate the Keltner and Bollinger bands. The default period is 20.
2. BollingerMulti: This setting is used to calculate the Bollinger bands. The default value is 2.0
3. KeltnerMulti: This setting is used to calculate the Keltner bands. The default value is 1.0.
4. PopupAlerts: Adjust this setting to true to start receiving notifications when a new signal is formed
5. UserAlerts: Use this setting to enable an alert.
6. EmailAlert: Adjust this setting to true to receive an email alert
7. SoundAlerts: Adjust this setting to true to enable sound alert.
8. PushAlerts: This setting enables a mobile alert.

Final Thoughts On TTM Squeeze Indicator

The TTM Squeeze Indicator MT4 is a great volatility indicator you should install on your MT4 trading platform. The indicator helps to identify periods of consolidation on the market. It was designed from three components – Bollinger bands, Keltner channel, and a momentum indicator.

To get the most of the forex market, we encourage you to combine the TTM indicator with the Stochastic, Momentum, and MACD indicators. You can check out these indicators on our website to learn how they work individually through this link.

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