OPEN-SOURCE SCRIPT
MTF SqzMom [tradeviZion]
Updated
Credits:
MTF SqzMom [tradeviZion] - Multi-Timeframe Squeeze & Momentum Tool
MTF SqzMom [tradeviZion] is a tool designed to help traders easily monitor squeeze and momentum signals across multiple timeframes in a simple, organized format. Built using Pine Script 5, it ensures that data remains consistent, even when switching between different time intervals on the chart.
Key Features:
How It Works:
MTF SqzMom is based on the concept of the squeeze, which signals periods of lower volatility where price breakouts may occur. The tool tracks this by monitoring the contraction of Bollinger Bands within Keltner Channels. Along with this, it provides momentum analysis to help you gauge the potential direction of the market after a squeeze.
Using Alerts:
You can enable two types of alerts: when a squeeze starts (indicating consolidation) and when a squeeze fires (indicating a breakout). These alerts cover all timeframes you’ve selected, so you never miss important signals.
How to Set It Up:
1. Enable Alerts in Settings: Turn on "Alert for Squeeze Start" and "Alert for Squeeze Fire" in the settings.
2. Add Alerts to Your Chart:
3. Customize and Save: Adjust alert options, choose your notification type, and click "Create."
Why Use MTF SqzMom [tradeviZion]?
Acknowledgment:
While this tool builds on the TTM Squeeze concept developed by John Carter of Simpler Trading, it offers added flexibility through multi-timeframe analysis, alerts, and customizability to make monitoring market conditions more accessible.
- John Carter for creating the TTM Squeeze and TTM Squeeze Pro.
- Lazybear for the original interpretation of the TTM Squeeze: Squeeze Momentum Indicator.
- Makit0 for evolving Lazybear's script by incorporating TTM Squeeze Pro upgrades – Squeeze PRO Arrows.
MTF SqzMom [tradeviZion] - Multi-Timeframe Squeeze & Momentum Tool
MTF SqzMom [tradeviZion] is a tool designed to help traders easily monitor squeeze and momentum signals across multiple timeframes in a simple, organized format. Built using Pine Script 5, it ensures that data remains consistent, even when switching between different time intervals on the chart.
Key Features:
- Multi-Timeframe Monitoring: Track squeeze and momentum signals across various timeframes, all in one view. This includes key timeframes like 1-minute, 5-minute, hourly, and daily.
- Dynamic Table Display: A color-coded table that automatically adjusts based on the selected timeframes, offering a clear view of market conditions.
- Alerts for Key Market Events: Get notifications when a squeeze starts or fires across your chosen timeframes, so you can stay informed without needing to monitor the chart continuously.
- Customizable Appearance: Tailor the look of the table by selecting colors for squeeze levels and momentum shifts, and choose the best position on your chart for easy access.
How It Works:
MTF SqzMom is based on the concept of the squeeze, which signals periods of lower volatility where price breakouts may occur. The tool tracks this by monitoring the contraction of Bollinger Bands within Keltner Channels. Along with this, it provides momentum analysis to help you gauge the potential direction of the market after a squeeze.
- Squeeze Conditions: The script tracks four levels of squeeze conditions (no squeeze, low, mid, and high), each represented by a different color in the table.
- Momentum Analysis: Momentum is visually represented by colors indicating four stages: up increasing, up decreasing, down increasing, and down decreasing. This color coding helps you quickly assess whether the market is gaining or losing momentum.
Using Alerts:
You can enable two types of alerts: when a squeeze starts (indicating consolidation) and when a squeeze fires (indicating a breakout). These alerts cover all timeframes you’ve selected, so you never miss important signals.
How to Set It Up:
1. Enable Alerts in Settings: Turn on "Alert for Squeeze Start" and "Alert for Squeeze Fire" in the settings.
2. Add Alerts to Your Chart:
- Click the three dots next to the indicator name.
- Select "Add alert on tradeviZion - MTF SqzMom."
3. Customize and Save: Adjust alert options, choose your notification type, and click "Create."
Why Use MTF SqzMom [tradeviZion]?
- Consistent Data: The tool ensures that squeeze and momentum data remain consistent, even when you switch between chart intervals.
- Real-Time Alerts: Stay updated with alerts for squeeze conditions without needing to constantly watch the chart.
- Simple to Use, Customizable to Fit: You can easily adjust the table’s look and choose the timeframes and colors that best suit your trading style.
Acknowledgment:
While this tool builds on the TTM Squeeze concept developed by John Carter of Simpler Trading, it offers added flexibility through multi-timeframe analysis, alerts, and customizability to make monitoring market conditions more accessible.
Release Notes
Bug Fixes- Fixed an issue where the table was not properly sized during normal selection
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
TradeVizion™
Disclaimer
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