A common way to determine if the Bollinger Bands are squeezed is to look at whether the Bollinger Bands have entered the Keltner The Bollinger Bands are squeezed by the Keltner Channel. This indicator displays the Bollinger Bands, the Keltner channel, and the cloud between them. The indicator changes color when the cloud is in a squeeze state to make it easier to judge. There are several squeeze indicators, but most of them display the squeeze status in a sub-window. Many of them display the squeeze state in a sub-window. This indicator displays both Bollinger Bands and Keltner Channels on the chart. The color of the clouds between the lines allows you to determine the squeeze state at a glance. There is no indicator that displays all three types of Bollinger Bands, Keltner Channels, and clouds, as well as the color reversal of the clouds. Bollinger Bands, Keltner Channels, and clouds, as well as the color reversal of clouds.
■Functions The cloud is displayed between the Bollinger Bands, the Keltner Channel and each line. The color of the cloud changes when the Bollinger Band enters inside the Keltner Channel and squeezes.
■How to use (1) See if it is in a squeeze state 　When a squeeze condition occurs, the color of the cloud changes and you can tell at a glance that it has been squeezed. (2) Input parameters

BB_Deviation 　Sets the deviation σ of the Bollinger Band. 　Default value is 2. MA_Period 　Sets the period of the moving average that is the center line of the Keltner channel. 　The default value is the standard 20. MA_type 　Sets the method of calculating the moving average that will be the center line of the Keltner channel. 　The default value is SMA instead of EMA, which is standard for Keltner channels. 　You can select SMA or EMA. ATR_Period 　Sets the period of the ATR (Average True Range), which is the difference value of the Keltner channel. 　The default value is the standard 20. Mult_Factor 　Mult_Factor is a constant that is multiplied by the ATR, the difference value of the Keltner channel. 　The larger the value, the wider the channel. 　The default value is 1.5. 　If you want to change the color of each line, change it in the "Color Settings" tab of the indicator's parameter settings window.
■Specifications This indicator is for MT4 only. Bollinger Bands are based on standard SMA. Keltner Channel is an improved version and the following formula is used. 　　Central line: (high + low + close)/3 moving averages (1) 　　Difference: ATR (Average True Range) x multiplier 1.5 (2) 　　Upper line : (1) + (2) 　　Lower line : (1)-(2) 　　The moving average of the center line is originally calculated using EMA, but I use SMA for my own preference. 　　SMA and EMA can be switched. The central lines of Bollinger Bands and Keltner Channels are not shown because they use the entire display buffer. 　Bollinger Bands and the central line of the Keltner Channel are not displayed because they use all the display buffer. <Operating Brokers The function uses only the standard functions of MT4, so it should work regardless of the broker.
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ケルトナーチャネルによるボリンジャーバンドスクイーズ状態表示