{
  "id": "nqQ1DT5a",
  "numeric_id": 2949257,
  "title": "Squeeze Momentum Indicator [LazyBear]",
  "description": "[--- Updated: Sep 29, 2014 ---]\n\nFixed a typo in the code where BB multiplier was stuck at 1.5. Thanks @ucsgears for bringing it to my notice. \n\nUpdated source: http://pastebin.com/UCpcX8d7\n\nUse the updated source instead of the what TV shows below. \n\n[---- Original Notes ----]\n\nThis is a derivative of John Carter's \"TTM Squeeze\" volatility indicator, as discussed in his book \"Mastering the Trade\" (chapter 11). \n\nBlack 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\". \n\nMr.Carter suggests waiting till the first gray after a black cross, and taking a position in the direction of the momentum (for ex., if momentum value is above zero, go long). Exit the position when the momentum changes (increase or decrease --- signified by a color change). My (limited) experience with this shows, an additional indicator like ADX / WaveTrend, is needed to not miss good entry points. Also, Mr.Carter uses simple momentum indicator, while I have used a different method (linreg based) to plot the histogram. \n\nMore info:\n - Book: Mastering The Trade by John F Carter\n\nList of all my indicators:\nhttps://www.tradingview.com/v/4IneGo8h/",
  "text": "[--- Updated: Sep 29, 2014 ---]\n\nFixed a typo in the code where BB multiplier was stuck at 1.5. Thanks @ucsgears for bringing it to my notice. \n\nUpdated source: pastebin.com/UCpcX8d7\n\nUse the updated source instead of the what TV shows below. \n\n[---- Original Notes ----]\n\nThis is a derivative of John Carter's \"TTM Squeeze\" volatility indicator, as discussed in his book \"Mastering the Trade\" (chapter 11). \n\nBlack 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\". \n\nMr.Carter suggests waiting till the first gray after a black cross, and taking a position in the direction of the momentum (for ex., if momentum value is above zero, go long). Exit the position when the momentum changes (increase or decrease --- signified by a color change). My (limited) experience with this shows, an additional indicator like ADX / WaveTrend, is needed to not miss good entry points. Also, Mr.Carter uses simple momentum indicator, while I have used a different method (linreg based) to plot the histogram. \n\nMore info:\n - Book: Mastering The Trade by John F Carter\n\nList of all my indicators:\ntradingview.com/v/4IneGo8h/",
  "link": "https://www.tradingview.com/script/nqQ1DT5a-Squeeze-Momentum-Indicator-LazyBear/",
  "image": "https://s3.tradingview.com/n/nqQ1DT5a_big.png?v=1591450584",
  "published": "2014-07-04T07:18:36+00:00",
  "updated": null,
  "symbol": null,
  "interval": "360",
  "direction": "neutral",
  "likes": 117879,
  "comments_count": 681,
  "views": 3151796,
  "is_education": false,
  "is_editors_pick": false,
  "is_public": true,
  "language": "en",
  "tags": [
    {
      "tag": "custom",
      "title": "custom",
      "ideas_link": "https://www.tradingview.com/ideas/custom/",
      "scripts_link": "https://www.tradingview.com/scripts/custom/"
    },
    {
      "tag": "indicators",
      "title": "indicators",
      "ideas_link": "https://www.tradingview.com/ideas/indicators/",
      "scripts_link": "https://www.tradingview.com/scripts/indicators/"
    },
    {
      "tag": "lazybear",
      "title": "lazybear",
      "ideas_link": "https://www.tradingview.com/ideas/lazybear/",
      "scripts_link": "https://www.tradingview.com/scripts/lazybear/"
    },
    {
      "tag": "oscillator",
      "title": "Oscillators",
      "ideas_link": "https://www.tradingview.com/ideas/oscillator/",
      "scripts_link": "https://www.tradingview.com/scripts/oscillator/"
    },
    {
      "tag": "volatility",
      "title": "Volatility",
      "ideas_link": "https://www.tradingview.com/ideas/volatility/",
      "scripts_link": "https://www.tradingview.com/scripts/volatility/"
    }
  ],
  "updates": [],
  "related_ideas": [],
  "author": {
    "id": null,
    "username": "LazyBear",
    "link": "https://www.tradingview.com/u/LazyBear/",
    "picture": "https://s3.tradingview.com/userpics/60056_big.png",
    "badges": [
      "Pine Wizard",
      "Ultimate"
    ],
    "plan": null,
    "is_pro": null,
    "is_broker": false,
    "is_moderator": null,
    "socials": {
      "website": "https://www.tradingview.com/v/4IneGo8h/",
      "twitter": "TradingLazyBear",
      "instagram": null,
      "facebook": null,
      "youtube": null
    }
  },
  "video": null,
  "script": {
    "type": "indicator",
    "access": "open_source",
    "pine_id": "PUB;175",
    "version": -1,
    "library_id": null,
    "terms": null
  },
  "source": {
    "name": "Squeeze Momentum Indicator [LazyBear]",
    "access": "open_no_auth",
    "version": "-1.0",
    "kind": "study",
    "is_overlay": false,
    "created": null,
    "updated": null,
    "source": "//\r\n// @author LazyBear \r\n// List of all my indicators: https://www.tradingview.com/v/4IneGo8h/\r\n//\r\nstudy(shorttitle = \"SQZMOM_LB\", title=\"Squeeze Momentum Indicator [LazyBear]\", overlay=false)\r\n\r\nlength = input(20, title=\"BB Length\")\r\nmult = input(2.0,title=\"BB MultFactor\")\r\nlengthKC=input(20, title=\"KC Length\")\r\nmultKC = input(1.5, title=\"KC MultFactor\")\r\n\r\nuseTrueRange = input(true, title=\"Use TrueRange (KC)\", type=bool)\r\n\r\n// Calculate BB\r\nsource = close\r\nbasis = sma(source, length)\r\ndev = multKC * stdev(source, length)\r\nupperBB = basis + dev\r\nlowerBB = basis - dev\r\n\r\n// Calculate KC\r\nma = sma(source, lengthKC)\r\nrange = useTrueRange ? tr : (high - low)\r\nrangema = sma(range, lengthKC)\r\nupperKC = ma + rangema * multKC\r\nlowerKC = ma - rangema * multKC\r\n\r\nsqzOn  = (lowerBB > lowerKC) and (upperBB < upperKC)\r\nsqzOff = (lowerBB < lowerKC) and (upperBB > upperKC)\r\nnoSqz  = (sqzOn == false) and (sqzOff == false)\r\n\r\nval = linreg(source  -  avg(avg(highest(high, lengthKC), lowest(low, lengthKC)),sma(close,lengthKC)), \r\n            lengthKC,0)\r\n\r\nbcolor = iff( val > 0, \r\n            iff( val > nz(val[1]), lime, green),\r\n            iff( val < nz(val[1]), red, maroon))\r\nscolor = noSqz ? blue : sqzOn ? black : gray \r\nplot(val, color=bcolor, style=histogram, linewidth=4)\r\nplot(0, color=scolor, style=cross, linewidth=2)\r\n"
  },
  "is_source_available": true
}