OPEN-SOURCE SCRIPT
Squeeze Momentum Indicator mod#3
This is a corrected version of Squeeze Indicator that initially was authored by LazyBear and modified by KıvanÇ fr3762 (twitter)
Indicator description: forextrading-pips.com/squeeze-indicator/
Interpretation:
When both the upper and lower Bollinger Bands go inside the Keltner Channel, the squeeze is on.
When the Bollinger Bands (BOTH lines) start to come out of the Keltner Channel, the squeeze has been released (off).
When one of the Bollinger Bands is out of Keltner Channel, no highlighting is done.
List of all my indicators: tradingview.com/u/capissimo/
Indicator description: forextrading-pips.com/squeeze-indicator/
Interpretation:
When both the upper and lower Bollinger Bands go inside the Keltner Channel, the squeeze is on.
When the Bollinger Bands (BOTH lines) start to come out of the Keltner Channel, the squeeze has been released (off).
When one of the Bollinger Bands is out of Keltner Channel, no highlighting is done.
List of all my indicators: tradingview.com/u/capissimo/
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.
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