LazyBear

Squeeze Momentum Indicator [LazyBear]

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Fixed a typo in the code where BB multiplier was stuck at 1.5. Thanks @ucsgears for bringing it to my notice.

Updated source: http://pastebin.com/UCpcX8d7

Use the updated source instead of the what TV shows below.



This is a derivative of John Carter's "TTM Squeeze" volatility indicator, as discussed in his book "Mastering the Trade" (chapter 11).

Black crosses on the midline show that the market just entered a squeeze ( Bollinger Bands are with in Keltner Channel). This signifies low volatility , market preparing itself for an explosive move (up or down). Gray crosses signify "Squeeze release".

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). Exit the position when the momentum changes (increase or decrease --- signified by a color change). My (limited) experience with this shows, an additional indicator like ADX / WaveTrend, is needed to not miss good entry points. Also, Mr.Carter uses simple momentum indicator , while I have used a different method (linreg based) to plot the histogram.

More info:
- Book: Mastering The Trade by John F Carter
- Using Squeeze with ADX: http://www.tradethemarkets.com/public/ma...

List of all my indicators:

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//
// @author LazyBear 
// List of all my indicators: https://www.tradingview.com/v/4IneGo8h/
//
study(shorttitle = "SQZMOM_LB", title="Squeeze Momentum Indicator [LazyBear]", overlay=false)

length = input(20, title="BB Length")
mult = input(2.0,title="BB MultFactor")
lengthKC=input(20, title="KC Length")
multKC = input(1.5, title="KC MultFactor")

useTrueRange = input(true, title="Use TrueRange (KC)", type=bool)

// Calculate BB
source = close
basis = sma(source, length)
dev = multKC * stdev(source, length)
upperBB = basis + dev
lowerBB = basis - dev

// Calculate KC
ma = sma(source, lengthKC)
range = useTrueRange ? tr : (high - low)
rangema = sma(range, lengthKC)
upperKC = ma + rangema * multKC
lowerKC = ma - rangema * multKC

sqzOn  = (lowerBB > lowerKC) and (upperBB < upperKC)
sqzOff = (lowerBB < lowerKC) and (upperBB > upperKC)
noSqz  = (sqzOn == false) and (sqzOff == false)

val = linreg(source  -  avg(avg(highest(high, lengthKC), lowest(low, lengthKC)),sma(close,lengthKC)), 
            lengthKC,0)

bcolor = iff( val > 0, 
            iff( val > nz(val[1]), lime, green),
            iff( val < nz(val[1]), red, maroon))
scolor = noSqz ? blue : sqzOn ? black : gray 
plot(val, color=bcolor, style=histogram, linewidth=4)
plot(0, color=scolor, style=cross, linewidth=2)
Very good works applying the system from Mr John Carter. However as mentioned by you, I also experienced missed good entry points and max TP points. Thanks god I get a best entry using my own system while applying this but do some adjustment (i.e. KC multipliers to 2.0) as I'm scalping and want to get in and out (FIFO) faster.
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Tanks
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Should line 17 use "mult" instead of "multKC"? Thank you for sharing this indicator!!
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Could you please test this strategy
Thanks

+6 Rispondi
study("Squeeze Momentum Indicator"),c=close,l=20,h=high,w=low
v=linreg(c-avg(avg(highest(h,l),lowest(w,20)),sma(c,l)),20,0)
plot(v,color=change(v)>=0?blue:red,style=area)//+593939796676
+1 Rispondi
Excellent indicator, here the version with the auto divergence detection, regular and hidden:


+5 Rispondi
hi lazybear, kindly allow access?
+1 Rispondi
MarxBabu shermanchoo
@shermanchoo, u can use this directly
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Can I please have access ? Thanks ...................
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MarxBabu dhiiloow
@dhiiloow, this not require access
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