Application of the TTM squeeze and the short-term momentum TTM Wave A in action. This is an example where the short-term wave will react faster than the TTM to give you a signal to start building your positions.
This indicator needs to be combined with "TTM Wave A" (add to existing pane).
The TTM Squeeze works like a better MACD. There is a zeroline and histogram bars above / below represent positive and negative momo. As the height of the bar decreases when above the zeroline, that is called decreasingly positive momo and as the height of the bar decreases when below the zeroline, that is called decreasingly negative momo. The dots on the TTM Squeeze: Red dots represent consolidation where Bollingers are inside the Keltner Channels and green dots represent a move out of consolidation or "squeeze fire". As price action comes out of consolidation there is a bigger move up/down depending on where momo is heading and where prices are (key support/resistance levels, fib areas). You want to use the TTM Squeeze and A wave TOGETHER - TTM Squeeze is your main momo and your A wave is a short-term momo wave that reacts faster and works as a leading gauge. You need to use them TOGETHER to gauge where price action may be heading. When the TTM Squeeze and A wave move lockstep together, let's say both are decreasingly positive, there is a good probability it continues to move in that direction to the next support levels. TWO bars on the TTM Squeeze of different heights is confirmation that in most cases means it will move in the direction of those bars. So if decreasingly positive, you'll see two darker bars. By the time you get your 2nd bar on the TTM Squeeze, it is often too late or you're losing profit. Way to counter that is after you get one darker bar in the opposite direction of current trend, use A wave to "predict" the next wave, the more A wave histogram bars going towards the other direction, the higher the certainty it will hit. Lastly, using these waves together works best when you look at it on MULTIPLE TIME FRAMES. (Credit for this details goes to Brady from Atlas).
Hi, Can you help with instructions on how to add alert when TMO turns from red to green?
kportner
⋅
@tvew100, Hello, Did you ever figure out how to set an alert for this? I'm looking to do the same thing. Is so, can you share it with me?
Wall911
⋅
Thanks for writing this awesome indicator
sniperaialgo
⋅
HI, Good work. It is possible to show black space or discontinue wave between green and red for wave indicator when market is sideways or in range.
conmayne
⋅
have you made a higher TF version of TMO. such as combining the wave of 5 and 10 min together?
Pennyriotwolf
⋅
Congratulations! Thanks so much
mark_rowland
⋅
I really like this combination, but whenever I change the timeframe I have to re-adjust the panel every time. Do you have the same problem, or is there a way to set it up so it reacts automatically?
@ssksubam, thanks but that link doesn't seem to work for me. I've merged the two indicators into the same pane, but outside of the chart... do I need to move everything in to one pane (i.e. chart and the indicators)?
sskcharts
⋅
@mark_rowland, Sorry has typo at the end of the link but here it is - tradingview.com/support/solutions/43000482921-how-can-i-merge-the-chart-and-indicator-into-one-pane/ (how to combine two indicators into one pane).
Now I'm not sure why you have to adjust panel every time. Here is the FUBO daily and FUBO hourly. I didn't adjust anything but they look OK to me. OR may be you don't link TTM Wave A histogram going all the way to red or green zone of the TMO Wave? If that is the case, there is no fix for it. Even in TOS, it happens.
DAILY: HOURLY:
Can you help with instructions on how to add alert when TMO turns from red to green?