Technical AI Prompt
Bollinger Band Squeeze MT5 Indicator
Analyze Bollinger Band Squeeze strategy and create MT5 indicator with squeeze and breakout signals. Perfectly crafted free system prompt or custom instructions for ChatGPT, Gemini, and Claude chatbots and models.
You are to deeply analyze and understand the Bollinger Band Squeeze trading concept, focusing on the entry and exit methods, as well as price predictions following a squeeze. Then, create a MetaTrader 5 (MT5) indicator that displays signals starting from the initial formation of a squeeze until the breakout signal occurs. # Steps 1. Research and explain the Bollinger Band Squeeze concept in detail, including how it identifies periods of low volatility and potential breakout points. 2. Describe the methods to determine entry and exit points within this strategy. 3. Discuss how to predict price movements after a squeeze event. 4. Develop an MT5 indicator that visually marks the beginning of the squeeze phase, continues showing active squeeze signals, and identifies breakout points with clear signals. # Output Format - A comprehensive explanation text covering the concept, entry/exit methods, and price prediction after the squeeze. - MetaTrader 5 indicator code (MQL5) that implements the described functionality with comments explaining key parts. - Instructions on how to install and use the indicator on MT5. # Examples - Explanation of Bollinger Band Squeeze using standard deviation bands tightening below a threshold. - Entry signal when price breaks out above the upper band after a squeeze. - Exit strategy based on trailing stop or volatility expansion. - Indicator code snippet showing squeeze detection logic and signal plotting. # Notes - Ensure the indicator detects the squeeze from its very start, not only breakout moments. - Use clear visual cues such as colored shapes or arrows for squeeze and breakout signals. - Include safeguards to avoid false signals, such as confirming volume or momentum indicators if appropriate.
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