OPEN-SOURCE SCRIPT
Gaspard98 - Carter Squeeze On Chart / Signals
# Gaspard98 — Carter Squeeze On Chart / Signals
## Overview
The **Carter Squeeze** is an on-chart implementation of John Carter's well-known *TTM Squeeze* concept, rebuilt as a clean overlay with discrete **Buy / Sell signals**. It detects periods of volatility compression — when a market coils up before an expansion move — and fires a directional signal the moment that energy is released.
Unlike a classic momentum-pane squeeze, everything here lives directly on the price chart: compression state, momentum bias, trend, and entries are all visible at a glance, with no second window to monitor.
---
## The Concept Behind the Squeeze
Carter's method is built on a single, elegant observation: **when Bollinger Bands contract inside the Keltner Channels, the market is in a low-volatility "squeeze."** Volatility is mean-reverting, so a tight squeeze tends to be followed by a sharp expansion. The trade is not the squeeze itself — it's the *release* (the "fire"), taken in the direction of momentum.
This script measures that compression at **three intensity levels** (TTM Squeeze Pro style) rather than a single on/off state, so you can distinguish a mild coil from an extreme one.
---
## How It Works
**1. Compression detection**
Bollinger Bands (default 20, 2.0) are compared against three Keltner Channels built from the average True Range, at multipliers 2.0 / 1.5 / 1.0:
- **No squeeze** — bands are outside the widest Keltner (market is expanding)
- **Low compression** — mild coil
- **Mid compression** — moderate coil
- **High compression** — the tightest state; bands sit inside the narrowest channel
**2. Momentum**
A linear-regression oscillator measures price relative to the mid-channel (the classic Carter momentum formula). Its sign defines directional bias (bullish / bearish) and its slope defines whether momentum is accelerating or fading.
**3. Signals**
The default trigger is the **squeeze fire**: the bar where compression releases. A **BUY** prints if momentum is positive at the release, a **SELL** if it is negative. An optional alternative mode triggers on a **momentum zero-cross** instead.
---
## Signal Logic & Filtering
- **Trigger — Squeeze fire** (default): entry on the release of a compression, in the direction of momentum. This is the purest expression of Carter's method.
- **Trigger — Momentum cross**: entry when momentum crosses the zero line, regardless of squeeze state.
- **Require accelerating momentum** (default on): only allows a BUY when momentum is rising and a SELL when it is falling, filtering out weak, fading releases.
- **Confirm on close** (default on): signals evaluate only on closed bars, making them **non-repainting**. Disable it for faster, intrabar-reactive signals at the cost of mid-bar flicker.
---
## Visual Features
- **Buy / Sell labels** plotted directly below / above the bars.
- **Squeeze state dots** along the bottom of the chart, color-coded by intensity:
- green = no squeeze
- blue = low compression
- orange = mid compression
- red = high compression
- **Background tint** while a squeeze is active (color reflects intensity).
- **Candle coloring** driven by momentum (bright = accelerating, faded = fading).
- **Trend line** (the basis) colored by momentum bias.
- **Status table** in the top-right corner showing squeeze level, momentum value + direction, current bias, and the last signal.
- Optional **Bollinger + Keltner band overlay** so you can visualize the compression itself.
---
## Settings
**Squeeze**
- Source, Bollinger length & multiplier
- Keltner length and the three compression multipliers (low / mid / high)
**Signals**
- Trigger mode (Squeeze fire / Momentum cross)
- Require accelerating momentum
- Confirm on close (non-repaint)
**Visual**
- Toggle bands, background, dots, candle coloring, trend line, status table
- Custom Buy / Sell colors
---
## How to Use It
1. Watch for a tightening sequence — dots moving from green toward orange and red signal building compression.
2. The **brighter the candles** and the larger the momentum value, the stronger the directional conviction.
3. A signal prints when the squeeze releases. Treat the release as a *timing* tool, not a standalone system — combine it with structure, higher-timeframe trend, and your own risk management.
4. Tighter compressions (red) before a fire tend to precede the cleanest expansions.
Works on any market and timeframe (futures, indices, FX, crypto, equities). Higher timeframes generally yield fewer but cleaner signals.
---
## Alerts
Two alert conditions are built in — **BUY** and **SELL** — ready to attach in TradingView's alert dialog. The default message embeds the ticker and close price and can be reshaped for any webhook or automation endpoint.
---
## Notes
- Default Bollinger / Keltner parameters follow Carter's classic 20-period configuration; adjust to your instrument's volatility profile.
- With *Confirm on close* enabled, signals are fixed once the bar closes and do not repaint.
---
*This indicator is a technical-analysis tool provided for educational and informational purposes only. It is not financial advice and does not guarantee any outcome. Trading involves substantial risk of loss — always test thoroughly and manage risk according to your own plan.*
## Overview
The **Carter Squeeze** is an on-chart implementation of John Carter's well-known *TTM Squeeze* concept, rebuilt as a clean overlay with discrete **Buy / Sell signals**. It detects periods of volatility compression — when a market coils up before an expansion move — and fires a directional signal the moment that energy is released.
Unlike a classic momentum-pane squeeze, everything here lives directly on the price chart: compression state, momentum bias, trend, and entries are all visible at a glance, with no second window to monitor.
---
## The Concept Behind the Squeeze
Carter's method is built on a single, elegant observation: **when Bollinger Bands contract inside the Keltner Channels, the market is in a low-volatility "squeeze."** Volatility is mean-reverting, so a tight squeeze tends to be followed by a sharp expansion. The trade is not the squeeze itself — it's the *release* (the "fire"), taken in the direction of momentum.
This script measures that compression at **three intensity levels** (TTM Squeeze Pro style) rather than a single on/off state, so you can distinguish a mild coil from an extreme one.
---
## How It Works
**1. Compression detection**
Bollinger Bands (default 20, 2.0) are compared against three Keltner Channels built from the average True Range, at multipliers 2.0 / 1.5 / 1.0:
- **No squeeze** — bands are outside the widest Keltner (market is expanding)
- **Low compression** — mild coil
- **Mid compression** — moderate coil
- **High compression** — the tightest state; bands sit inside the narrowest channel
**2. Momentum**
A linear-regression oscillator measures price relative to the mid-channel (the classic Carter momentum formula). Its sign defines directional bias (bullish / bearish) and its slope defines whether momentum is accelerating or fading.
**3. Signals**
The default trigger is the **squeeze fire**: the bar where compression releases. A **BUY** prints if momentum is positive at the release, a **SELL** if it is negative. An optional alternative mode triggers on a **momentum zero-cross** instead.
---
## Signal Logic & Filtering
- **Trigger — Squeeze fire** (default): entry on the release of a compression, in the direction of momentum. This is the purest expression of Carter's method.
- **Trigger — Momentum cross**: entry when momentum crosses the zero line, regardless of squeeze state.
- **Require accelerating momentum** (default on): only allows a BUY when momentum is rising and a SELL when it is falling, filtering out weak, fading releases.
- **Confirm on close** (default on): signals evaluate only on closed bars, making them **non-repainting**. Disable it for faster, intrabar-reactive signals at the cost of mid-bar flicker.
---
## Visual Features
- **Buy / Sell labels** plotted directly below / above the bars.
- **Squeeze state dots** along the bottom of the chart, color-coded by intensity:
- green = no squeeze
- blue = low compression
- orange = mid compression
- red = high compression
- **Background tint** while a squeeze is active (color reflects intensity).
- **Candle coloring** driven by momentum (bright = accelerating, faded = fading).
- **Trend line** (the basis) colored by momentum bias.
- **Status table** in the top-right corner showing squeeze level, momentum value + direction, current bias, and the last signal.
- Optional **Bollinger + Keltner band overlay** so you can visualize the compression itself.
---
## Settings
**Squeeze**
- Source, Bollinger length & multiplier
- Keltner length and the three compression multipliers (low / mid / high)
**Signals**
- Trigger mode (Squeeze fire / Momentum cross)
- Require accelerating momentum
- Confirm on close (non-repaint)
**Visual**
- Toggle bands, background, dots, candle coloring, trend line, status table
- Custom Buy / Sell colors
---
## How to Use It
1. Watch for a tightening sequence — dots moving from green toward orange and red signal building compression.
2. The **brighter the candles** and the larger the momentum value, the stronger the directional conviction.
3. A signal prints when the squeeze releases. Treat the release as a *timing* tool, not a standalone system — combine it with structure, higher-timeframe trend, and your own risk management.
4. Tighter compressions (red) before a fire tend to precede the cleanest expansions.
Works on any market and timeframe (futures, indices, FX, crypto, equities). Higher timeframes generally yield fewer but cleaner signals.
---
## Alerts
Two alert conditions are built in — **BUY** and **SELL** — ready to attach in TradingView's alert dialog. The default message embeds the ticker and close price and can be reshaped for any webhook or automation endpoint.
---
## Notes
- Default Bollinger / Keltner parameters follow Carter's classic 20-period configuration; adjust to your instrument's volatility profile.
- With *Confirm on close* enabled, signals are fixed once the bar closes and do not repaint.
---
*This indicator is a technical-analysis tool provided for educational and informational purposes only. It is not financial advice and does not guarantee any outcome. Trading involves substantial risk of loss — always test thoroughly and manage risk according to your own plan.*
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.