Bollinger Squeeze Basic is a custom histogram indicator for MT4 and MT5 coded by EarnForex.com. The original version of this indicator was coded by Nick Bilak for MetaTrader 4. The indicator shows the current trend's strength and direction.
The presented version of Bollinger Squeeze Basic provides an option for alerts on change of relationship between the Bollinger bands and Keltner channel - a good signal for sideways/trending market. The trend's strength is measured with the standard Momentum indicator.
More information about this custom MetaTrader indicator is available here: https://www.earnforex.com/metatrader-indicators/Bollinger-Squeeze-Basic/
Any contributions to the code are welcome!