UCS_Squeeze_Timing-V2
Statistically, Squeeze fires in the direction of strength (Up or Down). By replacing the Rate of Change with Bollinger Band % BB, allows us to easily pick the direction to trade the Squeeze. With the knowledge of Price Pattern, it makes it even easier.
I have identified 4 Setups that works wells with this. I will let you explore and comment. Could possibly initiate arguments and can identify a few more.
Nothing is perfect, but probable.
Using this with the Timing V1 Signals - It is easier to sneak in. More variations to this in future. Will need time to backtest other variations.
I have identified 4 Setups that works wells with this. I will let you explore and comment. Could possibly initiate arguments and can identify a few more.
Nothing is perfect, but probable.
Using this with the Timing V1 Signals - It is easier to sneak in. More variations to this in future. Will need time to backtest other variations.
Uday C Santhakumar
// Variation - Lazybear Squeeze Indicator
// Recreated and Modified by UCSgears
// Replaced the momentum indicator
study(shorttitle = "UCS_SQUEEZE_Timing_V2", title="Squeeze Momentum Timing and Direction", overlay=false)
lengthBB = input(20, title="BB Length")
multBB = input(2,title="BB MultFactor")
lengthKC=input(20, title="KC Length")
multKC = input(1.5, title="KC MultFactor")
useTrueRange = input(true, title="Use TrueRange (KC)", type=bool)
// Calculate BB
source = close
basis = sma(source, lengthBB)
dev = multBB * stdev(source, lengthBB)
upperBB = basis + dev
lowerBB = basis - dev
// Calculate KC
ma = sma(source, lengthKC)
range = useTrueRange ? tr : (high - low)
rangema = sma(range, lengthKC)
upperKC = ma + rangema * multKC
lowerKC = ma - rangema * multKC
sqzOn = (lowerBB > lowerKC) and (upperBB < upperKC)
sqzOff = (lowerBB < lowerKC) and (upperBB > upperKC)
noSqz = (sqzOn == false) and (sqzOff == false)
bbr = ((source - lowerBB)/(upperBB - lowerBB))-0.5
val = sma(bbr,20)
bcolor = iff( val > 0,
iff( val > nz(val[1]), green, blue),
iff( val < nz(val[1]), red, orange))
scolor = noSqz ? blue : sqzOn ? red : green
plot(val, color=bcolor, style=histogram, linewidth=3)
plot(0, color=scolor, style=circles, linewidth=3)