I want to be able to convert it into a version indicator for MT4
Infinite merit


theory

The idea is that Bollinger bands squeeze uses a combination of Bollinger Bands and Keltner to narrow down the period of the "no entry" area. When the Bollinger Bands are in the Keltner channel, they are "narrowed down" and should not enter a new position. The idea behind this is that when the market level off, the deviation from the moving average is smaller than the ATR, which usually happens when an imminent change occurs in the market.

Features of this version

There are several versions of the BB squeeze indicator, but they are combined with other indicators that are not related to Bollinger Bands or the Keltner channel. This version uses only the original metric. Unlike some oscillators, the status is displayed on the main chart.

how to use

As the "narrowing down" continues, the band area is filled with gray. During this time, do not place new orders. When transparent, the region indicates the relative position of the closing price compared to the midpoint of the Bollinger band, and also indicates the band breakout of the closing price.