OPEN-SOURCE SCRIPT
Squeeze Momentum Oscillator
Title: Squeeze Momentum Oscillator
Description: This indicator is a panel-based oscillator that separates market momentum from volatility, designed to spot high-probability breakouts using the classic TTM Squeeze logic.
How It Works: The indicator uses a "traffic light" system on the zero line to indicate volatility states, while the histogram shows the strength and direction of the trend.
1. The Dots (Volatility State): These dots tell you if the market is consolidating or trending.
🔴 Red Dot: Squeeze is ON. Bollinger Bands are inside Keltner Channels. Volatility is compressed. Do not trade; wait for the release.
🟢 Green Dot: Squeeze is OFF. Volatility is normal.
🟣 Fuchsia Dot: Bullish Breakout! The squeeze has fired to the upside and is confirmed by positive SMA momentum.
🔵 Blue Dot: Bearish Breakout! The squeeze has fired to the downside and is confirmed by negative SMA momentum.
2. The Histogram (Momentum): This measures the strength of the move using Linear Regression.
Light Green: Bullish momentum is increasing.
Dark Green: Bullish momentum is waning (caution).
Light Red: Bearish momentum is increasing.
Dark Red: Bearish momentum is waning (caution).
Settings & Features:
Momentum Filter: Breakout dots (Fuchsia/Blue) only appear if the 20-period SMA slope agrees with the breakout direction, filtering out weak fakeouts.
Customizable: Adjust lengths and multipliers for Bollinger Bands and Keltner Channels to tune sensitivity.
Toggle: You can turn the specific "Breakout Colors" on or off in the settings.
Credits: Based on the TTM Squeeze concept popularized by John Carter, utilizing Linear Regression for momentum and standard deviation/ATR comparisons for volatility. Fixed and optimized for TradingView Pine Script v6.
Description: This indicator is a panel-based oscillator that separates market momentum from volatility, designed to spot high-probability breakouts using the classic TTM Squeeze logic.
How It Works: The indicator uses a "traffic light" system on the zero line to indicate volatility states, while the histogram shows the strength and direction of the trend.
1. The Dots (Volatility State): These dots tell you if the market is consolidating or trending.
🔴 Red Dot: Squeeze is ON. Bollinger Bands are inside Keltner Channels. Volatility is compressed. Do not trade; wait for the release.
🟢 Green Dot: Squeeze is OFF. Volatility is normal.
🟣 Fuchsia Dot: Bullish Breakout! The squeeze has fired to the upside and is confirmed by positive SMA momentum.
🔵 Blue Dot: Bearish Breakout! The squeeze has fired to the downside and is confirmed by negative SMA momentum.
2. The Histogram (Momentum): This measures the strength of the move using Linear Regression.
Light Green: Bullish momentum is increasing.
Dark Green: Bullish momentum is waning (caution).
Light Red: Bearish momentum is increasing.
Dark Red: Bearish momentum is waning (caution).
Settings & Features:
Momentum Filter: Breakout dots (Fuchsia/Blue) only appear if the 20-period SMA slope agrees with the breakout direction, filtering out weak fakeouts.
Customizable: Adjust lengths and multipliers for Bollinger Bands and Keltner Channels to tune sensitivity.
Toggle: You can turn the specific "Breakout Colors" on or off in the settings.
Credits: Based on the TTM Squeeze concept popularized by John Carter, utilizing Linear Regression for momentum and standard deviation/ATR comparisons for volatility. Fixed and optimized for TradingView Pine Script v6.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.