OPEN-SOURCE SCRIPT
Squeeze Momentum Strategy [esonusharma]
The strategy is based on John Carter's TTM squeeze indicator with some modifications.
Strategy is only for Long trades and not for Short trades.
It combines Bollinger Bands and Keltner Channels to identify periods of low volatility (squeezes) and capitalise on breakout opportunities.
Key Features:
Squeeze Detection: Identifies low-volatility periods using the relationship between Bollinger Bands and Keltner Channels:
Squeeze ON: When Bollinger Bands are inside Keltner Channels.
Squeeze OFF: When Bollinger Bands expand beyond Keltner Channels, signalling potential breakouts.
Momentum Analysis: Uses a custom momentum histogram based on the midline of the Donchian Channel and SMA to assess the strength and direction of price movements.
Green Histogram: Upward momentum.
Red Histogram: Downward momentum.
Backtesting: Start and end dates for precise historical analysis.
Squeeze Background: Highlighted background when a squeeze is active.
Trade Automation: Long trades are initiated after a squeeze ends with upward momentum.
Exits are governed by EMA conditions and profit targets.
Strategy is only for Long trades and not for Short trades.
It combines Bollinger Bands and Keltner Channels to identify periods of low volatility (squeezes) and capitalise on breakout opportunities.
Key Features:
Squeeze Detection: Identifies low-volatility periods using the relationship between Bollinger Bands and Keltner Channels:
Squeeze ON: When Bollinger Bands are inside Keltner Channels.
Squeeze OFF: When Bollinger Bands expand beyond Keltner Channels, signalling potential breakouts.
Momentum Analysis: Uses a custom momentum histogram based on the midline of the Donchian Channel and SMA to assess the strength and direction of price movements.
Green Histogram: Upward momentum.
Red Histogram: Downward momentum.
Backtesting: Start and end dates for precise historical analysis.
Squeeze Background: Highlighted background when a squeeze is active.
Trade Automation: Long trades are initiated after a squeeze ends with upward momentum.
Exits are governed by EMA conditions and profit targets.
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