Here is a multi-timeframe heat map using one of the most apreciated indicators in Tradingview: Squeeze Momentum Indicator by LazyBear. Study shall be added to 15min chart. It indicates squeeze and momentum at: 15 min, 30 min, 60 min, 240 min and 1 Day.
The multi-timeframe heat map doesn't stay consistent when I switch between timeframes on the chart. For example: switching from 1 day to 1 hour chart shows a different multi-timeframe heatmap. Or did I miss something?
vulcan4d
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@kietvnz, Agreed and it also changes with smaller timeframe changes like 1 vs 2hours. Hopefully this can be fixed, it's a really awesome idea.
Nelsoncl1819
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What do the light blue cross represent?
03.freeman
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@Nelsoncl1819, color.blue = no squeeze when cross is blue
UnknownUnicorn16251912
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How do I set alerts for the following:
to buy on 30 min, first light green bar is printed
to sell on 4 hour, first light green bar is printed
The alert conditions have more than 10 options but all of them are called "Plot".
TintinTrading
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Actually I tried to use it on 1min chart but believe it gives out different to standard squeeze signals...does it work on lower timeframes?
03.freeman
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@TintinTrading, No it is designed to work starting from 15min timeframe.
camerons07
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How do I even read this indicator? What are those little gray icons representing here? Whats the difference between the darker and lighter colors?
03.freeman
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@camerons07, as per LazyBear explanation:
Black crosses on the midline show that the market just entered a squeeze ( Bollinger Bands are with in Keltner Channel). This signifies low volatility , market preparing itself for an explosive move (up or down). Gray crosses signify "Squeeze release".
Lighter color: momentum is increasing
Red is for sell, green for buy