UCS Squeeze Bar
This indicator is a request from tvmember jackvmk. Credits to jackvmk.
Squeeze bar = a bar which encompasses 5, 10, 15, 20, 30, 40 SMA
Squeeze bars high and lows are support and resistance. when price break one of them, this direction is direction of explosion.
I have added a further more customization
1. Using EMA instead of SMA
2. Using Heikin Ashi Optimization
3. Using Realbody (ignore wicks)
4. Plot the MA Ribbon
Squeeze bar = a bar which encompasses 5, 10, 15, 20, 30, 40 SMA
Squeeze bars high and lows are support and resistance. when price break one of them, this direction is direction of explosion.
I have added a further more customization
1. Using EMA instead of SMA
2. Using Heikin Ashi Optimization
3. Using Realbody (ignore wicks)
4. Plot the MA Ribbon
Uday C Santhakumar
study(title="Squeeze Bar", shorttitle="Sqz Bar", overlay=true) useHAC = input(true, title = "** Select this When Using Optimized Squeeze **", type=bool) userb = input(true, title = "Ignore Wicks", type = bool) plma = input(true, title = "Plot Moving Averages", type = bool) masl = input(false, title = "Use EMA instead of SMA", type = bool) // Heikin Ashi ATR Calculations haclose = ohlc4 haopen = na(haopen[1]) ? (open + close)/2 : (haopen[1] + haclose[1]) / 2 hahigh = max (high, max(haopen,haclose)) halow = min (low, min(haopen,haclose)) haatra = abs(hahigh - haclose[1]) haatrb = abs(haclose[1] - halow) haatrc = abs(hahigh - halow) haatr = max(haatra, max(haatrb,haatrc)) src = useHAC ? haclose : close sro = useHAC ? haopen : open // MA Calculations ma1 = masl ? ema(src,5) : sma(src,5) ma2 = masl ? ema(src,10) : sma(src,10) ma3 = masl ? ema(src,15) : sma(src,15) ma4 = masl ? ema(src,20) : sma(src,20) ma5 = masl ? ema(src,30) : sma(src,30) ma6 = masl ? ema(src,40) : sma(src,40) // High and Low rblow = userb ? min(src, sro) : low rbhig = userb ? max(src, sro) : high // Squeeze Bar sqzbar = (ma1 > rblow and ma1 < rbhig) and (ma2 > rblow and ma2 < rbhig) and (ma3 > rblow and ma3 < rbhig) and (ma4 > rblow and ma4 < rbhig) and (ma5 > rblow and ma5 < rbhig) and (ma6 > rblow and ma6 < rbhig) // Bar Coloring barcolor(sqzbar ? yellow : na) // Ploting plot(plma ? ma1 : na, title = "Moving Average", color = red, linewidth = 1) plot(plma ? ma2 : na, title = "Moving Average", color = red, linewidth = 1) plot(plma ? ma3 : na, title = "Moving Average", color = red, linewidth = 1) plot(plma ? ma4 : na, title = "Moving Average", color = green, linewidth = 3) plot(plma ? ma5 : na, title = "Moving Average", color = blue, linewidth = 2) plot(plma ? ma6 : na, title = "Moving Average", color = gray, linewidth = 3)