![]() Sqeez圓.AssignValueColor(if squeezeDots3 = 1 then Color.DARK_GREEN else Color.DARK_RED) Sqeez圓.SetPaintingStrategy(PaintingStrategy.POINTS) Sqeezy2.AssignValueColor(if squeezeDots2 = 1 then Color.DARK_GREEN else Color.DARK_RED) Sqeezy2.SetPaintingStrategy(PaintingStrategy.POINTS) Sqeezy1.AssignValueColor(if squeezeDots1 = 1 then Color.DARK_GREEN else Color.DARK_RED) Sqeezy1.SetPaintingStrategy(PaintingStrategy.POINTS) Plot Sqeezy6 = if squeezeDots6 = 1 then squeezeDots6 else 1 Plot Sqeezy5 = if squeezeDots5 = 1 then squeezeDots5 + 1 else 2 Plot Sqeezy4 = if squeezeDots4 = 1 then squeezeDots4 + 2 else 3 Plot Sqeez圓 = if squeezeDots3 = 1 then squeezeDots3 + 3 else 4 Plot Sqeezy2 = if squeezeDots2 = 1 then squeezeDots2 + 4 else 5 Plot Sqeezy1 = if squeezeDots1 = 1 then squeezeDots1 + 5 else 6 ![]() ![]() MTF_Sqz.AssignValueColor(if Top_Plot = 1 then Color.BLACK else Color.DARK_RED) MTF_Sqz.SetPaintingStrategy(PaintingStrategy.POINTS) ![]() Input AP3 = AggregationPeriod.THREE_DAYS ĭef squeezeDots1 = TTM_Squeeze(price1, length, nK, nBB, alertLine).SqueezeAlert ĭef squeezeDots2 = TTM_Squeeze(price2, length, nK, nBB, alertLine).SqueezeAlert ĭef squeezeDots3 = TTM_Squeeze(price3, length, nK, nBB, alertLine).SqueezeAlert ĭef squeezeDots4 = TTM_Squeeze(price4, length, nK, nBB, alertLine).SqueezeAlert ĭef squeezeDots5 = TTM_Squeeze(price5, length, nK, nBB, alertLine).SqueezeAlert ĭef squeezeDots6 = TTM_Squeeze(price6, length, nK, nBB, alertLine).SqueezeAlert ĭef Top_Plot = (squeezeDots1 + squeezeDots2 + squeezeDots3 + squeezeDots4 + squeezeDots5 +squeezeDots6) >= Vote SignalHighShort.SetPaintingStrategy(paintingStrategy.ARROW_Down) tDefaultColor(color.red) ĭef highSqueeze = BolKelDelta_High 0) or (LongShortDefinition = LongShortDefinition.HistRisingFalling and oscillator > oscillator) or (LongShortDefinition = LongShortDefinition.HistRisingFromBelowFallingFromAbove and oscillator > oscillator and oscillator 0 )) then high+signalOffset else double.nan SignalMidShort.SetPaintingStrategy(paintingStrategy.ARROW_Down) MultKC = input(1.Def midSqueeze = BolKelDelta_Mid 0) or (LongShortDefinition = LongShortDefinition.HistRisingFalling and oscillator > oscillator) or (LongShortDefinition = LongShortDefinition.HistRisingFromBelowFallingFromAbove and oscillator > oscillator and oscillator 0 )) then high+signalOffset else double.nan Study(shorttitle = "SQZMOM_LB", title="Squeeze Momentum Indicator ", overlay=false) Book: Mastering The Trade by John F Carter Also, Mr.Carter uses simple momentum indicator, while I have used a different method (linreg based) to plot the histogram. My (limited) experience with this shows, an additional indicator like ADX / WaveTrend, is needed to not miss good entry points. Exit the position when the momentum changes (increase or decrease - signified by a color change). Mr.Carter suggests waiting till the first gray after a black cross, and taking a position in the direction of the momentum (for ex., if momentum value is above zero, go long). This signifies low volatility, market preparing itself for an explosive move (up or down). This is a derivative of John Carter's "TTM Squeeze" volatility indicator, as discussed in his book "Mastering the Trade" (chapter 11).īlack crosses on the midline show that the market just entered a squeeze (Bollinger Bands are with in Keltner Channel). Use the updated source instead of the what TV shows below. Fixed a typo in the code where BB multiplier was stuck at 1.5.
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