dgtrd

Squeeze Momentum Indicator [LazyBear] vX by DGT

Modified version of Squeeze Momentum Indicator visualizing on Price Chart

author: LazyBear, modified by KıvançÖZBİLGİÇ
Versionshinweise: small update: Keltner Channel calculations replaced by kc(series, length, mult, useTrueRange) build-in function
Versionshinweise: enhancement

The Squeeze Indicator measures the relationship between Bollinger Bands and Keltner's Channels to help identify consolidations and signal when prices are likely to break out (whether up or down).
The Squeeze Indicator finds sections of the Bollinger Bands which fall inside the Keltner's Channels and in this case the market is said to be in a squeeze (indicator turns off, displayed with grey diamond shapes in this study)
When the volatility increases, so does the distance between the bands, conversely, when the volatility declines, the distance also decreases and in such cases the squeeze is said to be released (indicator turns on, displayed with triangle up or triangle down shapes)

To produce Buy/Sell signals, the Squeeze indicator is plotted along with Momentum Oscillator
When the indicator is on and the Momentum Oscillator Histogram is green, it is considered a Buy signal (this signal is supposed to be correct until two green bars in a row).
When the indicator is on and the Momentum Oscillator Histogram is red, it is considered a Sell signal (this signal is supposed to be correct until two red bars in a row).
When the market finishes a move, the indicator turns off (grey) and no trade is recommended
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Kommentare

hi,what do the grey diamonds tell us?
Antworten
dgtrd ajit8d
hello @ajit8d,

The Squeeze Indicator measures the relationship between Bollinger Bands and Keltner's Channels to help identify consolidations and signal when prices are likely to break out (whether up or down).

The Squeeze Indicator finds sections of the Bollinger Bands which fall inside the Keltner's Channels and in this case the market is said to be in a squeeze (indicator turns off - no trade is recommended, displayed with grey diamond shapes in this study)
Antworten
Trying to add script to webull. it comes up with the following errors:

ine 26: Before they are used, all variables have to be declared.
line 26: This variable is not callable.
line 27: The function call parameters do not match the function signature.

I am no coder so I do not know how to fix.

Any help would be appreciated.
Antworten
dgtrd zeroin
hello @zeroin, webull is a different platform and probably has its own syntax of coding (as Pine is specifc for TradingView) . i would wish to help but i do not have any experience on webull
Antworten
Amazing stuff!
Does it repaint?
Antworten
dgtrd VasuChhabra
Thank you @VasuChhabra, credits goes to @LazyBear, who developped, and @KivancOzbilgic, who enchanced. My attempt was to interpret visualization on top of the price chart and made a small correction (not much of importance). Regarding repaint it does not include any logic to prevent repainting and probably is not needed assuming the original version of the study is the top liked study ;-)

Cheers
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