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The Advanced Bands Squeeze indicator is a custom indicator based on the classic Bollinger Bands as created by John Bollinger. The Bollinger Band Squeeze occurs when volatility falls to low levels and the Bollinger Bands narrow. This low volatility level is called a "Squeeze".

According to John Bollinger, periods of low volatility are often followed by periods of high volatility, where prices tend to move a lot in either direction. Therefore, a volatility contraction or narrowing of the bands can foreshadow a significant advance or decline. Once the squeeze play is on, a subsequent band break signals the start of a new move. Note that the "Squeeze OFF" condition only signals that a move is starting but it does not signal the direction of the move. A new advance starts with a "Squeeze OFF" signal and subsequent break above the upper band. A new decline starts with a "Squeeze OFF" signal and subsequent break below the lower band.



FEATURES


  • Color-coded visual representation of the Squeeze status
  • Customizable Bollinger Bands and Standard Deviations
  • Customizable color, size, and visibility of all GUI objects
  • Bands and Price crossings can be shown on the chart
  • Trade signals are calculated and shown on chart. Signals can be sent to trader using many different methods. NOTE: These signals are not trade advice but only indicates that certain conditions have occurred
  • Indicator statistics are customizable and can be shown on the chart


PARAMETERS


The Advanced Bands Squeeze indicator has many configurable parameters. This allows for all aspects of the indicator to be changed for the user’s preferences. By default, the indicator is designed to work without any changes by the user. The parameters are divided into the following categories:

  • Yancy Indicator Parameters
  • Bollinger Bands Parameters
  • Squeeze Parameters
  • BB Band Width Parameters
  • Crosses Parameters
  • Signals Parameters
  • Squeeze Statistics Parameters
  • Message Parameters
  • Quite Time Parameters
  • Debug Parameters
It should be noted that the user does not have to change any parameters for the indicator to work. All parameters have default values that have the lowest impact on the indicator and user. The Advanced Bands Squeeze indicator is designed to work perfectly by just placing it on a chart.


Yancy Indicator Parameters


These parameters control the overall functionality of the indicator. More specifically, it controls how the Advanced Bands Squeeze indicator is used within the trading terminal. The parameters in this section are:

Indicator Name – Default: BB Squeeze
This is the indicator name that is displayed in the chart data window. Changing this value does not impact the indicator’s calculations.
Indicator Offset – Default: 0
The indicator calculations are made on the current data bar by default. This value can change the default and force calculations to be made based on previous bars. It is recommend to leave this parameter set to the default value.
Only Load Visible Data – Default: true
If true, then calculations are done only for the data that is visible on the current chart. Else then calculations are made for all the data in the chart.


Bollinger Bands Parameters


The advanced bands squeeze basic parameters control how the indicator is calculated and used. Parameters in this section are:

Enable Bollinger Bands Module – Default: false
Other YFX indicators can use data in the Bollinger Bands data. This functionality can be enabled by setting this parameter to ‘true’. The integration is disabled by default and the value is set to ‘false’.
Bollinger Bands Periods – Default: 20
Number of periods used in calculating the Bollinger Bands.
Bollinger Bands Applied Price Series – Default: "Closing Price"
Price series to use in calculating Bollinger Bands.
Squeeze Analysis Periods – Default: 120
Number of periods to use in calculating squeeze status.
Default Bollinger Band Type – Default: "Outside Bands"
The Bollinger Bands to use as a default in calculations.
Inside Standard Deviations – Default: 1
Number of standard deviations to use in calculating inside bands.
Outside Standard Deviations – Default: 2
Number of standard deviations to use in calculating outside bands.
Extreme Standard Deviations – Default: 3
Number of standard deviations to use in calculating the extreme bands.
Band Break Detection Method – Default: "Open/Close Band Break"
Band breaks can be detected using the open/close price. Breaks can also be detected using the high/low prices.
Points Margin On Band Break Signal – Default: 0.0
A margin of error can be used when detecting band breaks. That value can be stored in this parameter. By default, no margin is used and breaks are measured in absolute terms.


Squeeze Parameters


The squeeze parameters are used to customize aspects of the squeeze display. Parameters in this section are:

Display Squeeze Line – Default: true
A flag to indicate whether the squeeze line should be displayed.
Squeeze Line Color – Default: Gold
The color in which to draw the squeeze line.
Squeeze Line Width – Default: 2
Width of line used to draw squeeze line.


Band Width Parameters


The band width parameters are used to customize display aspects of the underlying band width indicator. Parameters in this section are:

Display Band Width Line – Default: true
A flag to indicate whether the band width line is displayed.
Band Width Line OFF Color – Default: Steel Blue
The color in which to draw the band width line when the squeeze is off.
Band Width Line ON Color – Default: Maroon
The color in which to draw the band width line when the squeeze is on.
Band Width Line Width – Default: 2
Width of line used to draw the band width line.


Crosses Parameters


The crosses parameters are used to customize aspects of the points where price crosses the squeeze line and where trade signals are closed. Parameters in this section are:

Display Cross Markers – Default: false
A flag to indicate whether the cross markers are displayed.
Cross Marker Color – Default: Blue
The color in which to draw the cross markers.
Cross Marker Width – Default: 3
Width of marker used to draw crosses.


Signals Parameters


The signals parameters are used to manage how trade signals are managed by the indicator. Parameters in this section are:

Enable Trade Signals – Default: false
If true, then trade signals are calculated and displayed.
BUY Signal Color – Default: Aqua
Color for drawing BUY signals.
SELL Signal Color – Default: Magenta
Color for drawing SELL signals.
Signal Marker Width – Default: 3
Size of signal markers.
Close Trades On Reversal – Default: true
If true, then trade signals should be closed when a reversal is detected.


Squeeze Statistics Parameters


The squeeze statistics parameters are used to control how the indicator statistics are managed. Parameters in this section are:

Enable Squeeze Statistics – Default: false
Enable the calculation of Squeeze statistics while the indicator is running. The statistics are shown in the comments section of the chart and can be customized by the following flags.
Display Statistics Header – Default: true
If true, then the statistics header is displayed. Otherwise the header is not displayed. This parameter is only used if the statistics are enabled.
Display Ticks Summary – Default: true
Display the summary of all ticks if true.
Display Trade Signal Statistics – Default: false
Display the statistics for BUY/SELL signals if true.
Display Squeeze OFF Statistics – Default: false
Display the statistics for Squeeze OFF status if true.
Display Squeeze ON Statistics – Default: false
Display the statistics for Squeeze ON if true.
Display Additional Information – Default: false
Display additional information if true.


Message Parameters


The message parameters determine how the indicator notifications are conveyed to the user. There are several options and the user can select which ones to use at any time. Multiple options can be enabled simultaneously. Parameters included in this section are:

Show Comments – Default: false
Messages can be displayed in the comment section on the chart. By default, this option is disabled. Users can enable the option by setting parameter to ‘true’.
Show Alerts – Default: false
Messages can be displayed in the alert pop-up window on the terminal. By default, this option is disabled. Users can enable the option by setting parameter to ‘true’.
Send Email – Default: false
Messages can be emailed to users if this option is enabled. By default, the option is disabled but can be enabled by setting the parameter to ‘true’. It is important that the user ensures that the mail options are configured and working in the trading terminal.
Send Push Notifications – Default: false
Messages can be pushed to a user’s mobile phone application. This option is disabled by default but can be enabled by setting the parameter to ‘true’. It is important that push notifications be configured correctly in the user’s trading terminal and mobile application.
Print to Journal – Default: false
Messages can also be written in the terminal’s journal. These messages are disabled by default but can be enabled by setting the parameter to ‘true’.
Print to Output File – Default: false
Messages can be written to an external file on disk in the ‘Files’ folder. By default, this option is disabled by default but can be enabled by setting the parameter to ‘true’.
Output File Name – Default: YFX_Messages.log
If the print to file option is enabled, then message notifications are written to a file with this name in the ‘Files’ folder.
Play Message Sound – Default: false
Sounds can be played when a notification occurs. By default, this option is disabled but can be enabled by setting the parameter to ‘true’.
Sound File Name – Default: expert.wav
If the sound message option is enabled, then this sound file is played when notifications are generated.


Quiet Time Parameters


The quiet time parameters control when notification messages are conveyed to the user. Parameters in this section specify a time period when all notifications are disable. Settings in this section override the message parameters and alert parameters. No notification will be sent during quiet time. Parameters in this section are:

Enable Quiet Time – Default: false
The quiet time process can itself be enabled or disable. It is disabled by default and that means that all alert message notifications will be sent when they are generated. Quiet time can be enabled by setting this parameter to ‘true’.
Quiet Time Start – Default: 01:00
If quiet time is enabled, then this parameter sets the start time of the period. No alert message notifications will be sent after this time. This parameter is only used if quiet time is enabled. It is ignored if quiet time is disabled.
Quiet Time End – Default: 07:00
If quiet time is disabled, then this parameter sets the end time of the period. No alert message notifications will be sent before this time. The parameter is only used if quiet time is enabled. It is ignored if quiet time is disabled.


Debug Parameters


Sometimes it may be necessary to debug the indicator. Debugging can be configured with the parameters in this section. Debugging would cause a great number of messages to be generated if enabled. It is highly recommended to leave debug disabled. Parameters in this section are:

Enable Debug Module – Default: false
Debugging can be enabled or disabled. By default, it is disabled and no debugging information is generated. Debugging can be enabled by setting this parameter to ‘true’. It is highly recommended to leave this option disabled as the amount of debug logging can be huge and slow down the trading terminal.
Debug Level – Default: DEBUG_LEVEL_NONE
The amount of debugging information can be configure. By default, no information is generated. This is a drop down list and the user can select any one of the values in the list.
Use Date Names for Debug Files – false
If debugging is enabled, the information is written to an external file. The name of the file can be coded to contain the date of the log file.



Screen Image 1
Default Indicator View

Screen Image 2
Parameters Overview

Screen Image 3
Squeeze Histogram View

Screen Image 4
Squeeze Histogram View

Screen Image 5
Squeeze Default Statistics

Screen Image 6
Squeeze Full Statistics

Screen Image 7
Squeeze Signals

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