OPEN-SOURCE SCRIPT
SQVIGU Squeeze
Histogram: the momentum direction, light blue/dark blue for bullish momentum; red/ dark red for bearish momentum.
center dots: red dots mean the market is compressing (squeeze on) green dots mean volatility is expanding (squeeze has fired)
arrows: if squeeze fires, momentum is on your side, price is in the correct side of the 50 EMA, and the ADX confirms strong volume--a yellow up arrow (longs) or fuchsia down arrow (shorts) will plot directly. on the zero line.
center dots: red dots mean the market is compressing (squeeze on) green dots mean volatility is expanding (squeeze has fired)
arrows: if squeeze fires, momentum is on your side, price is in the correct side of the 50 EMA, and the ADX confirms strong volume--a yellow up arrow (longs) or fuchsia down arrow (shorts) will plot directly. on the zero line.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.